Yorkshire’s £750million cash call this Christmas

The economy may only be showing tentative signs of recovery but the two biggest spending weekends of the year will soon be upon us, according to research from Yorkshire Bank.
 
The Bank estimates that around £750 million will be withdrawn from Yorkshire's 5,000 ATMs in December.  On average, cash-happy Yorkshire-folk will withdraw £40 every time they visit an ATM in December, around 10% higher than in November.   Across the UK, people will withdraw a staggering £11bn from ATMs this December, at a rate of up to £1 million per hour, Yorkshire Bank suggests.

According to the Bank's research, the two busiest weekends of the year for cash withdrawals are the first weekend of December and the weekend before Christmas.  This coming weekend (5th & 6Th December) traditionally represents the busiest shopping weekend in the run-up to Christmas.

But it is revellers, flocking to ‘cashpoints' as the seasonal celebrations move in to full-flow, who withdraw the most.  The weekend immediately prior to Christmas Day sees the value of ATM withdrawals increase by around 25% as Brits prepare to toast the season. The Bank, which with its sister bank, Clydesdale, has 940 machines across the UK, estimates that more than £80million will be withdrawn from the county's ATMs over that weekend alone; for the country as a whole, that figure is expected to hit £1.2bn.

Gary Lumby, head of retail for Yorkshire Bank, said: "Despite the rise in popularity of Debit Cards, cash withdrawals from ATMs continue to grow each year.

"Christmas is always the busiest time of year for shoppers but they can avoid the rush at ATMs by starting early in the morning or picking up cash in mid-week when there are considerably fewer transactions.

"Those out to celebrate the season face less problems with queuing; they tend to stagger their withdrawals across the day and evening.  But they are more susceptible to crime, so we advise them to enjoy themselves but take care when using an ATM at night."