- Link forecasts £210 million will be withdrawn from UK ATMs on Wednesday.
- England's World Cup semi-final is expected to add £20 million to cash withdrawals.
- Cash use has fallen sharply, but major sporting events continue to drive demand.
England's World Cup semi-final against Argentina is expected to give cash withdrawals across the UK an unexpected lift, with ATM network Link forecasting an extra £20 million will be taken out of cash machines on Wednesday.
The company expects around £210 million to be withdrawn from its ATMs during the day, roughly 10 per cent higher than a typical Wednesday. According to Link, much of that extra cash is likely to end up in pubs and hospitality venues as fans gather to watch the match.
Link said England's quarter-final victory over Norway had already boosted cash demand. Ahead of that match, an additional £10 million was withdrawn from ATMs, despite expectations that the hot weather would normally reduce cash usage as more people stayed at home.
Graham Mott, Link's director of strategy, reportedly said the company expects another significant jump in withdrawals based on previous tournament matches and the timing of Wednesday's fixture.
He reportedly said there are many factors at play, but Link expects a 10 per cent increase in cash withdrawals, adding around £20 million to the day's total. He also noted that Sunday saw unusually low withdrawal levels, possibly because many people were recovering after a late night following England's last match.
Cash still gets a boost on big match days
The company said football tournaments continue to influence spending habits even as cash becomes less common. During England's World Cup semi-final against Croatia in 2018, Link's ATMs dispensed £26 million more than expected.
Mott reportedly said it was interesting to compare the current situation with England's 1966 World Cup triumph, when almost all everyday purchases were made using cash. He added that cash now accounts for only about 10 per cent of all payments in the UK, while cheque use has become rare.
Although digital payments continue to dominate everyday spending, Link believes major sporting occasions still encourage many fans to carry cash, particularly for spending in pubs, bars and other venues during high-profile matches.
