Euro Fintech CoreEuro Fintech Core
  • Blockchain
  • Crypto
  • Digital Payment
  • Fintech EU
  • Mobile Payment
  • Virtual Banking
Euro Fintech CoreEuro Fintech Core
Search
  • Blockchain
  • Crypto
  • Digital Payment
  • Fintech EU
  • Mobile Payment
  • Virtual Banking
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Euro Fintech Core > Digital Payment > strath’s place on the countdown
Digital Payment

strath’s place on the countdown

Marco
3 Min Read

A table has been published showing how Scotland’s towns and villages are placed in the great vanishing act of banking ‘holes-in-the-wall’ as the digital world swallows them up.

Badenoch and Strathspey is rated 50th in line to go ‘cashless’:

Inverness, Nairn, Badenoch and Strathspey , with a population of 77,060, currently has 13.5 ATMs in operation, a loss of 15 (12.6%) since July 2018.

Disappearing act: one of the strath's ATMs still in operation. This one is at Aviemore's Bank of Scotland branch. Picture: David Macleod
Disappearing act: one of the strath’s ATMs still in operation. This one is at Aviemore’s Bank of Scotland branch. Picture: David Macleod

Aberdeen South is set to go cashless quickest, having seen the biggest shift to cashless transactions, with a 36% reduction in ATMs between 2018 and 2022.

West Dunbartonshire has seen the smallest shift across Scotland, with a 4.1% reduction of ATMs between 2018 and 2022.

Falkirk has the easiest access to cash, with 38 ATMs per 10,000 residents – higher than anywhere else in the UK.

Na h-Eileanan an Iar is most limited when accessing cash, with just 2 ATMs per 10,000 residents.

Online trading platform CMC Markets has looked at House of Commons data relating to the number of ATM closures across the UK. They then compared this with population figures to find the number of ATMs per 10,000 people across different parliamentary constituencies in Scotland and the rest of the UK.

Michael Hewson, chief market analyst at CMC Markets commented: “During the COVID-19 pandemic, consumers were reminded that using digital payment options over cash would allow them to pay for goods and services in a safer manner. Many found this to be more convenient than withdrawing cash, and it appears to have only accelerated the already existing shift towards digital banking.

“By analysing the rate at which ATMs have closed over the past four years, we were able to see which areas are likely to go cashless first, as well as the areas with the easiest access to cash machines.”

“With older generations being more reliant on cash machines, increasing closures of ATMs may exacerbate the digital divide unless banks continue with measures that aim to improve digital literacy.”


Do you want to respond to this article? If so, click here to submit your thoughts and they may be published in print.

Source link

Marco January 15, 2023
Share this Article
Facebook Twitter Copy Link Print
Previous Article Cashless transactions rise to N395tn
Next Article Bengaluru pub ordered to pay compensation to customer for levying ‘service charge’
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest News

Blockchain and FinTech Advisory Expert, Ian Scarffe Joins Liquid Crypto
Top 5 Blockchain Node Hosting Companies web3 developers should know
Mobile Commerce Platform Fintiv Partners with Geoswift to Enable Cross-border Digital Remittance in Asia
O’Melveny Insights 2023

Popular Updates

Blockchain and FinTech Advisory Expert, Ian Scarffe Joins Liquid Crypto
What Is Blockchain | Money

Sections

  • Blockchain
  • Crypto
  • Digital Payment
  • Fintech EU
  • Mobile Payment
  • Virtual Banking

Quick Link

  • Home
  • Contact
  • Privacy Policy

Featured Updates

Benefits, Documents Required and How to Verify
4 Cosmetics Stocks Worth Watching on Robust Industry Trends
Follow US

© 2022 Euro Fintech Core All Rights Reserved.

Removed from reading list

Undo