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Bank claims: Olympics cause ATM use to rise

Brits used cash machines to incur a huge number of bank charges over the Olympics, data from Link has revealed.

The firm revealed that during the 17-day period in which the London 2012 Olympic Games took place, automated teller machines (ATMs) in the UK dispensed £270 million more than they did during the same timeframe in 2011.

Between July 27th and August 12th 2012, the overall amount of money taken from Link cash machines realised an annual increase of 4.6 per cent to hit £6.108 billion, compared with £5.838 billion in 2011.

These figures do not contain the vast majority of credit card claims or bank withdrawals Brits made in other countries, the use of ATMs within Olympic venues or when people used cash machines in their own building society or bank.

Better weather could have also impacted this data and caused transaction volumes to rise, the Link Scheme noted.

Chief executive officer of the firm John Howells said: "August is normally a quiet month for ATM withdrawals but so far 2012 has proved the exception."

"This extra cash should boost spending, which should prove a valuable bonus to retailers," he added.

Charles Baker
Charles is a reputed financial analyst with decades of experience under his beltADNFCR-2776-ID-801431311-ADNFCR



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