National IAD Study UK

2024 Version

This report will provide an overview of the UK ATM market and explore in detail the:

• Market Transformation: The UK ATM market is undergoing significant changes, posing various challenges and opportunities.
• ATM Density: Despite a decline in the total number of ATMs since 2015, the UK maintains a higher ATM density than most other European countries.
• Cash Usage: Cash remains a vital payment method for many consumers, with an increase in the circulation of banknotes and a rebound in cash usage following the pandemic.
• Driving Factors: The revival of in-person shopping and the alleviation of health concerns about cash handling are contributing to the increased use of cash.
• Proposed Solutions: Experts recommend expanding deposit-taking ATMs, restoring pre-2018 interchange levels, and enhancing ATM functionalities to tackle industry challenges.
• Policy Opportunities: Potential policy changes from the newly elected Labour government regarding cash acceptance could further benefit the ATM sector.