New data has found that Aberdeen South is the area of Scotland that is set to go cashless the quickest, with a 36% decline in ATMs between 2018 and 2022.

Online trading platform CMC Markets has looked at House of Commons data relating to the number of ATM closures across the UK. They then compared this with population figures to find the number of ATMs per 10,000 people across different parliamentary constituencies in Scotland and the rest of the UK.

West Aberdeenshire and Kincardine was found to have the second highest rate of ATM closures with 30.8% (20 closures) of its ATMs having closed since 2018, while Edinburgh South West was third highest, with a closure rate of 29.9% (32).

The average rate of ATM closures was found to be 18.3% between 2018 and 2022 across all areas of Scotland.

West Dunbartonshire was found to have the lowest rate of ATM closures since 2018, with a 4.1% reduction in ATMs, equating to just five closures overall.

Other notable constituencies across Scotland – such as Glasgow Central and Midlothian were found to have seen a 25.7% and a 22.6% reductions in ATMs, respectively.

When looking across the rest of the UK, Cheadle in Northwest England was found to have the highest rate of closures, at an astonishing 44.9% of ATMs closing since 2018.

Easiest and hardest areas to access cash

When considering the number of ATMs per 10,000 people, Falkirk was found to be the easiest area to access cash, not just in Scotland but across the whole of the UK, with 37.3 ATMs per 10,000 residents. It came just ahead of Cities of London and Westminster (37.3 per 10,000).

At the other end of the scale, Na h-Eileanan an Iar was found to be the hardest place to access cash in Scotland, with the lowest number of ATMs per person, at just 2.2 per 10,000 residents.

Michael Hewson, chief market analyst at CMC Markets commented on the findings: “During the COVID-19 pandemic, consumers were reminded that using digital payment options over cash would allow them to pay for goods and services in a safer manner.

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“Many found this to be more convenient than withdrawing cash, and it appears to have only accelerated the already existing shift towards digital banking.”

“By analysing the rate at which ATMs have closed over the past four years, we were able to see which areas are likely to go cashless first, as well as the areas with the easiest access to cash machines.”

“With older generations being more reliant on cash machines, increasing closures of ATMs may exacerbate the digital divide unless banks continue with measures that aim to improve digital literacy.”

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