Cash Usage Rises for Fourth Year as Brits Continue to Value Money in Their Pockets

Cash withdrawals from ATMs hit £4.2 billion in 2025 – surpassing the previous high of £4 billion in 2017 – data from Nationwide shows.

The new record supports figures that highlight four years of consecutive growth in ATM withdrawals across Nationwide’s branches.

Growth in cash withdrawals highlights how many people are turning to physical money to better manage their spending – a trend supported by recent research by Nationwide showing that 13 per cent of Brits (equivalent to seven million) say paying exclusively in cash makes saving easier.

Britain’s biggest building society recorded around 34.7 million cash withdrawals from the 1,270 ATMs at its 605 branches last year – an increase of around six per cent on 2024. The average amount of cash withdrawn went up from £113 in 2024 to £120 in 2025.

The busiest time of the year for cash withdrawals was the week before Christmas (w/c 15 December), where £103 million as withdrawn – a five per cent increase year on year. This is the highest amount dispensed in a week since pre-Covid. The week leading up to Black Friday also saw a surge, with £93 million withdrawn (up nine per cent year on year).

Rising ATM usage comes against a backdrop of continued bank branch closures. According to Which?, a staggering 6,626 branches have shut their doors since January 2015, averaging around 53 closures per month. This represents 67 per cent of the network that existed at the start of 2015. Nationwide now has 135 ‘last in town’ branches and this is expected to rise this year.

The data shows a six per cent increase in withdrawals from non-Nationwide customers, while there has also been a six per cent increase from Nationwide customers.

Nationwide, which now has the UK’s biggest single-brand banking network with 605 branches, has recently reaffirmed commitment to communities by continuing to offer face-to-face service, with the extension of its Branch Promise – meaning everywhere it has a branch, it will remain until at least 2030. This Promise includes its 91 Virgin Money branches.

The biggest increase in cash withdrawals were recorded in East Anglia and Essex, The shires and South London. The rise in multi-function ATMs mean that cash withdrawals are only part of the picture. Over four in ten (42%) of all transactions are for other services – from printing mini-statements and paying bills and changing PINs to paying in cash and cheques.

When it comes to depositing cash, Nationwide has seen 4.2 million transactions this year. The average deposit amount rose from £278 to £281, reflecting continued use of ATMs for everyday banking. However, the amount of cash being deposited is down four per cent compared to the peak seen in 2022.

Mandy Beech, Director of Retail Services at Nationwide Building Society, said: “Nationwide has the UK’s largest branch network and we see daily how our customers value cash and face-to-face service. That’s why we’ve promised to keep all our branches open until 2030.

“ATM usage last year exceeded the previous peak in 2017 and while it is interesting to see ATM withdrawals continuing to rise, it is exacerbated by ongoing closures of bank branches. Which? figures show there has been a massive reduction in the number of branches in communities, which might point to why we are also seeing a rise in withdrawals coming from non-Nationwide customers.”