Chiswick ATM Sees Country's Largest Increase in Withdrawals
Surge in usage of Nationwide machine since other banks closed
The Nationwide cash machine on Chiswick High Road. Picture: ChiswickW4.com
January 14, 2025
Figures have been released by Nationwide showing that its cash machine on Chiswick High Road showed the biggest increase in withdrawals of any in its network last year.
The number of times money was taken out of people’s accounts increased by 151% and the ATM in Chiswick was one of only two where the level doubled over the year. This compares with a national average increase of 4%
The unusually large increase is being attributed to the closure of other nearby bank branches and their ATMs including Nat West and Lloyds. Withdrawals from Nationwide machines by non-customers has increased by 16%
Overall there were 33 million withdrawals as the usage of cash continue to increase with the third annual rise in a row. Nationwide believes this recent surge comes as many people opt for cash to budget at a time the cost of living remains high.
Britain’s biggest building society has 1260 ATMs at its 605 branches last year – a 10per cent increase on 2023. The average amount of cash taken out on each withdrawal from Nationwide ATMs was £112 last year.
Prior to 2022, the number of cash withdrawals at Nationwide had been steadily declining from its 2014 peak. This fall was most pronounced when the pandemic struck, when withdrawals dropped by more than 40 per cent in a year.
ATM usage has also risen due to bank branch closures, which has seen free services being removed from high streets up and down the country.
Nationwide has reaffirmed its commitment to communities by continuing to offer face-to-face service, with its Branch Promise meaning everywhere it has a branch; it will remain until at least 2028.
Many areas where Nationwide is now the last branch in town have also seen sizable increases, including Henley-on-Thames, Cupar, Fife and Bromborough, Merseyside.
Andrew McAllister, branch manager at Nationwide in Chiswick, said, “Nationwide’s branch promise means that everywhere we have a branch, we’re there to stay until at least the start of 2028. Demand for our ATM services has risen by more than 150 per cent in a year as others have closed their bank branches. We’re one of the last remaining branches in Chiswick, and it’s clear that local people still value face-to-face service.”
| Nationwide's Top ten biggest increases in cash withdrawals | |
|---|---|
Branch |
% Transaction Increase |
Chiswick |
151% |
Shotton |
126% |
St. Neots |
92% |
Fakenham |
88% |
South Woodford |
78% |
Henley-on-Thames |
77% |
Cupar |
77% |
Stourbridge |
75% |
Frome |
71% |
Barkingside |
69% |
Otto Benz, Director of Payments at Nationwide Building Society, said, “The rising cost of living continues to impact people and many are opting to budget with physical money to avoid getting into debt. Nationwide has the largest branch network in the UK, which allows us to support customers who want access to cash, whether that be from our ATMs or over the counter. The major banks have closed branches in towns and cities across the country taking away many of the free ATMs that people rely on, which is why the biggest rise in withdrawals comes from non-Nationwide customers. The resurgence of cash shows why we need to continue having a physical presence on the high street, enabling customers to access their money on their terms, whether digitally or in branch.”
Like Reading Articles Like This? Help Us Produce More This site remains committed to providing local community news and public interest journalism. Articles such as the one above are integral to what we do. We aim to feature as much as possible on local societies, charities based in the area, fundraising efforts by residents, community-based initiatives and even helping people find missing pets. We’ve always done that and won’t be changing, in fact we’d like to do more. However, the readership that these stories generates is often below that needed to cover the cost of producing them. Our financial resources are limited and the local media environment is intensely competitive so there is a constraint on what we can do. We are therefore asking our readers to consider offering financial support to these efforts. Any money given will help support community and public interest news and the expansion of our coverage in this area. A suggested monthly payment is £8 but we would be grateful for any amount for instance if you think this site offers the equivalent value of a subscription to a daily printed newspaper you may wish to consider £20 per month. If neither of these amounts is suitable for you then contact info@neighbournet.com and we can set up an alternative. All payments are made through a secure web site. One-off donations are also appreciated. Choose The Amount You Wish To Contribute. If you do support us in this way we’d be interested to hear what kind of articles you would like to see more of on the site – send your suggestions to the editor. For businesses we offer the chance to be a corporate sponsor of community content on the site. For £30 plus VAT per month you will be the designated sponsor of at least one article a month with your logo appearing if supplied. If there is a specific community group or initiative you’d like to support we can make sure your sponsorship is featured on related content for a one off payment of £50 plus VAT. All payments are made through a secure web site. |