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Data for today’s episode is provided by Mercator Advisory Group’s report – ATM Banking: It’s Not Just About Cash Withdrawal Anymore.
- Has consumers’ use of cash increased or decreased over the past 12 months?
- Trick Question! Over the last 12 months:
- 15% of consumers report using more cash
- 15% of consumers report using less cash
- 70% of consumers report ‘stayed the same’
- Check use has declined slightly:
- 9% report more check
- 22% report less checks
- 69% report the same level
- Consumers who withdraw cash at an ATM do so an average of 43 times a year.
- Consumers performed other ATM activity (beside withdrawal) 36 times a year.
- Light ATM users are much less likely to use an in-store ATM (26%) than heavy ATM users (42%).
- Young consumers (age 18-34) are more likely to use in-store ATMs (41%) than 35-64 year olds (27%) or older consumers (18%).
About this report
Mercator Advisory Group’s most recent Insight Summary Report, ATM Banking: It’s Not Just About Cash Withdrawal Anymore, reveals that U.S. customers are increasingly relying on ATMs to fulfill their banking needs. The report is from the Banking and Channels Survey in the bi-annual CustomerMonitor Survey Series, a part of Mercator’s Primary Data Service. It is based on findings from Mercator Advisory Group’s CustomerMonitor Survey Series online survey of 3,000 U.S. adult consumers in November 2018.