Nationwide Building Society has announced the number of cash withdrawals from its network of ATMs has climbed for the second year in a row.
This news follows more than a decade of declines. However, the lender, which has its headquarters in Swindon, reported some 31.36 million cash withdrawals were made from its network for more than 1,200 ATMs in 2023, up from 30.21 million in 2022. The firm, which is led by Debbie Crosbie, said this marked the second annual increase, with 2022 having seen the first rise in cash withdrawals for 13 years.
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The building society said the average amount of cash taken out per withdrawal from its ATMs was around £105 in 2023. During the past year, the amount withdrawn at Nationwide ATMs in areas where the Society has become the last branch in town has increased by an average of 55%.
The majority of the increase in withdrawals in “last branch in town” areas over the last two years has been from non-Nationwide customers, the Society said.
Otto Benz, director of payments at Nationwide Building Society, said: “ATMs do more than just dispense cash – nearly half of transactions are from people paying money in, checking their balance or paying a household bill.
“This goes to show this is far from the end for cash and we will continue to offer our customers the ability to access their money on their terms whether that be digitally or in branch.”
In July 2023 Nationwide promised to keep its high street branches open until 2026. The company said it hopes to keep face-to-face banking alive in local communities and so has extended its branch promise as in-person banking remains popular.
