Customers have been choosing to bank and pay for things digitally or with contactless cards, with cash representing just 12% of all payments. That’s down from 25% in 2020 and 60% in 2008.
Analysis from LINK, the UK’s cash access and ATM network, shows cash withdrawn from cash machines in every Scottish constituency has fallen since Covid.
In 2019, £11.9 billion was withdrawn from ATMs compared to £7.5bn in 2024, a 36.7% drop.
There was also a 49% drop in the number of transactions from 175m in 2019 to 88m in 2024.
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City centres have been the fastest to move away from cash but areas with higher levels of deprivation and digital exclusion are moving away slower.
Edinburgh North and Leith has the highest move away from cash in Scotland while Airdrie and Shotts has the slowest decline.
Nick Quin, Head of Financial Inclusion, LINK said: “COVID changed how we live, how we work, and for many people, how we manage our cash. Cash use remains popular – we still withdrew £250m a day in 2024.
“The fact that areas which are more deprived are moving away from cash more slowly is a timely reminder that we cannot afford to leave anyone behind, and that we need to focus more on digital inclusion as part of how technology is rolled out across the UK.”
