Around 235 million Pounds (298 million dollars) are set to be withdrawn from ATMs on Thursday as people head out to vote, according to a forecast from UK Cash Access and Cash Machine network Link reported on Wednesday. This projection anticipates a decrease from the amount withdrawn during the last general election on December 12, 2019, which saw 322 million Pounds taken out as Boris Johnson returned as Conservative Prime Minister.
“Early December tends to be a slightly busier time for cash machine withdrawals,” noted the report. During the general election on June 8, 2017, which saw Theresa May’s election gamble backfire, resulting in the erasure of the Conservatives’ Commons majority, ATMs dispensed 356 million Pounds.
Last Thursday, June 27, saw 240 million Pounds dispensed from ATMs, according to Link’s figures. However, these statistics only account for Link transactions, where bank customers use ATMs belonging to other providers. The vast majority of ATMs across the UK are connected to the Link network.
Graham Mott, director of strategy at Link, observed, “Polling day itself doesn’t significantly alter ATM use compared to a normal Thursday at that time of year; people tend to fit voting around their usual routines.” Mott highlighted the trend of reduced cash transactions overall, as more people opt for card and mobile payments in their daily transactions.
Legislation passed in 2023 under the Financial Services and Markets Act aims to safeguard access to cash. Despite a survey indicating that 48 percent of people expect a cashless society in their lifetime, Link’s data shows that the average UK adult withdrew approximately 1,500 pounds from ATMs last year.
In June, banknotes featuring King Charles III’s portrait began circulation, marking the first change in the sovereign depicted on Bank of England notes since the late queen’s appearance in 1960. These new banknotes are circulating alongside those bearing the late queen’s portrait. Currently, there are more than 4.6 billion Bank of England notes in circulation, totaling about 82 billion pounds.
Mott assured, “99.8 percent of UK high streets have free cash access within 1 kilometer.” He added, “Link will ensure this remains true by the time of the next general election, whenever that may be.”
