£577m cash withdrawn amid heatwave

Cash machineThe heatwave looks to have triggered a mini spending boom after the UK's cash machine network reported its busiest day of the year.

The Link network said £577 million was withdrawn on Friday as Britons filled their wallets and purses ready to enjoy a sweltering October weekend.
Chief executive John Howells said: "The good weather really seems to have encouraged people to withdraw cash in preparation for increased spending over an unusually sunny weekend."

Link said the busiest time on Friday was just after midday, when workers would have gone to an ATM while grabbing their lunch.
Retail experts expressed fears last week that the unseasonal weather would deter shoppers from purchasing autumn and winter fashion ranges.

But Mr Howells said the run on the cash machines showed that "the right combination of feel-good factors can boost short-term spending and that cash is a very popular way of paying for these kinds of goods and services".

The £577 million bumper withdrawal was the highest daily total since last Christmas Eve. It was also a 14% increase on the same day last year.

Link said Sunday was also particularly busy as £252 million was withdrawn - an 11% boost on the same day in 2010.

© 2011 Press Association
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