Britons will make almost £370million in cash withdrawals on Christmas Eve, new research has found. Analysis from LINK, the UK’s cash access and ATM network, reveals that over a quarter of British adults who celebrate Christmas had finished their gift buying before Black Friday this year.
The study found that 26 per cent of festive shoppers wrapped up their purchases ahead of the late November sales event. With Christmas Day falling midweek in 2025, the network anticipates that December 24 will see the highest ATM activity of the year.
LINK projects that nearly £370million will be withdrawn on Christmas Eve, as shoppers stock up on cash ahead of the extended four-day holiday period, with average withdrawals reaching £124.
When it comes to payment methods, debit cards remain the preferred option for six in ten shoppers, while credit cards follow at 35 per cent.
Britons are using cash more
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GETTY
Digital wallet payments account for 26 per ecnt of transactions, and Buy Now Pay Later services are used by one in ten consumers, with this figure rising to 19 per cent among those aged 25 to 34.
Cash continues to play a role in festive spending, with 17 per cent of shoppers opting to pay with notes and coins.
Nearly half of consumers prefer spreading their purchases across December, though just seven per cent wait until the final days, a figure that climbs to 10 per cent among under-25s.
Online-only retailers such as Amazon and Temu prove most popular for gift purchases, chosen by 57 per cent of shoppers, with shopping centres attracting 48 per cent and independent high street stores drawing 46 per cent.
Card and cash are both being used for payments
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GETTYA clear generational divide emerges in shopping habits, with those aged over 55 favouring traditional retail destinations, as 52 per cent head to high streets and 51 per cent visit shopping centres.
Younger consumers show different preferences, gravitating towards digital platforms and second-hand marketplaces in search of bargains.
The research also found that 41 per cent of adults intend to carry both card and cash options for festive activities, from visits to Christmas markets to trips to the pub.
Despite the shift towards digital payments, cash retains particular significance in certain parts of the country, with 28 per cent of shoppers in Northern Ireland and 26 per cent in Northeast England planning to use it for festive purchases.
Financial caution is evident among many consumers, with 35 per cent monitoring their Christmas expenditure closely and 18% having saved throughout the year to cover seasonal costs, though a third report no financial concerns about their festive shopping.
Graham Mott, LINK’s Director of Strategy, said: “Christmas is always a special time and for cash machines it is the busiest time of the year. The ATMs will be well stocked for last minute gifts.
“It’s interesting to know that so many people have already completed their shopping – but as ever – there’ll be quite a few of us leaving it until the last couple of days. The ATMs will be well stocked for last minute gifts.”
The latest figures found cash usage among the British public rose for the second year in a row with notes and coins being used in a fifth of transactions last year, the British Retail Consortium (BRC) claims.
Sticking with high street rates could mean forgoing £992 annually | PA
The trade association found that the amount spent per purchase also fell slightly from £22.43 in 2022, to £22.03 last year. The BRC noted issues for women in abusive relationships, whose partners use a bank account as a form of control or to track their movements.
Deidre Cartwright, the policy manager at charity Surviving Economic Abuse, told the BBC: “Oftentimes access to cash is their only means to actually accessing essentials for themselves and their children.
“It’s a means for them to be able to escape an abuser, especially when that abuser can track them through a bank account, so it’s incredibly important for their safety and survival.”
