Olympics sparked dash for cash
10:36am Thursday 16th August 2012 in London Olympics 2012 - Latest News
The Olympics sparked a dash for cash as withdrawals from Link ATMs saw an uplift, figures showed today.
Link, the UK cash machine network, said that its ATMs dispensed more than a quarter of a billion pounds more to people over the period of the Games compared with a year ago.
It said the summer boost had been fuelled by the sporting events and recent improvements in the weather.
Link's cash withdrawals between July 27 and last Sunday increased by £270 million or 4.6% from £5.8 billion to £6.1 billion when compared with the same period in 2011.
John Howells, Link scheme CEO 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."
Link's figures cover about 70% of cash withdrawals made and do not include transactions people make at their own banks or building societies.
The figures do not include the vast majority of overseas card withdrawals or ATMs within the Olympic venues.
Just over half (55%) of all consumer payments are made in cash.