More of us are using cash, according to the Payments Council

A new report, UK Cash and Cash Machines 2013, suggests that more people used cash in 2012 for their day to day purchases – up around 10% on the previous year.

The number of cash payments (by businesses and individuals) were up from 20.6 billion to 20.8 billion, representing more than half (54%) of all payments.

The report, published by the Payments Council in conjunction with LINK and the UK Cards Association, says this trend suggests people are turning to cash rather than cards to pay for purchases so they can monitor their daily spending.

The number of cash machines in the UK reached a record 66,134 last year, a fact attributed to efforts by banks to increase the number of ATMs available to customers in more deprived parts of the country.

More than 97% of withdrawals are made from free-to-use machines.

For more on this story, click here.