LINK, the operator of the UK's cash machine network, has reported that October saw new records for LINK cash machine withdrawals. The monthly value of LINK withdrawals* topped £10 billion for the first time.
October 2009 Record
£10,029,688,000 was withdrawn through the LINK network in October, an increase of 4.4% on October 2008, and more than the total for December 2008, normally the busiest month of the year.
LINK Managing Director Edwin Schooling Latter said, "This could be a sign of consumers' willingness to spend returning, though may also reflect some cardholders preferring to use cash to help with their budgeting. Up to the end of September we saw slower year-on-year growth of around 2% and October's increase is a marked jump - even the surprisingly good weather in much of the country in October may well have been a factor"
* LINK withdrawals are those which involve a card from one bank or building society being used at a cash machine that is not operated by the same bank or building society. They include both free of charge and some charged transactions. Over 95% of LINK withdrawals are made at free-to-use machines.
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Media Enquiries:
For more information please contact Victoria McGovern / Karen Cooper at the LINK Press Office.
Email: victoria.mcgovern@thejjgroup.com / karen.cooper@thejjgroup.com
Tel: 01865 343100
Mobile: Victoria, 07971 293 594
About LINK
LINK connects almost every cash machine in the UK, both free-to-use and pay-to-use. The LINK network is the busiest ATM transaction switch in the world. The LINK Scheme brings together the banks, building societies and other institutions that issue cards and the operators of the 64,000 UK cash machines that make up the LINK network.
The LINK network processes around 250 million transactions a month and, at its busiest, it processes over one million transactions an hour. The LINK network has 40 members and there are more than 130 million LINK cards in circulation from 29 card issuers.
