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ATM withdrawals recover in August

The latest Spark Cash Index (SCI) for August 2013 revealed an 8.48% year-on-year increase in average cash withdrawal values to R471.81. This also reflects a 1.97% month-on-month growth from R462.70 in July.
ATM withdrawals recover in AugustThe SCI measures the key cash withdrawal statistics across more than 2200 Spark ATMs throughout South Africa.

Provincial cash withdrawal trends

The Northern Cape province recorded the highest average cash withdrawal value (R497.91) for August 2013, followed by KwaZulu-Natal (R494.14) and Mpumalanga (R490.06).

These provinces have higher withdrawal amounts due to the remittance income that flows from the metro areas to the rural areas of these provinces. The Northern Cape also displayed the highest year-on-year growth rate of 15.79%.

KwaZulu-Natal recorded the highest growth in month-on-month withdrawal value of 3.89%, followed by Mpumalanga which recorded a 3.52% month-on-month increase.

Site/location category cash withdrawal trends:

Wholesale locations recorded the highest cash withdrawal value (R485.74) for August 2013 for the seventh month in a row, with a month-on-month increase of 1.78%. Goods purchased from wholesalers also contribute to the sustenance of SASSA card holders, who find better value for their money at these types of outlets, and many of Spark's new installations have taken place at cash and carry-type wholesale outlets.

Petrol sites recorded the second highest average cash withdrawal value (R474.62) for August 2013, the second highest month-on-month increase of 2.47%, and the highest year-on-year growth of 9.05%. This is attributed to the recent fuel price increases, whereby consumers are making larger withdrawals to pay for petrol.

Retail locations recorded the highest month-on-month increase of 3%, and the third highest cash withdrawal value of R455.55. This has normalised following a decrease in July of 3.74%, but is also attributed to the end of winter sales promotions at retail locations in August.

Both farming and leisure locations recorded month-on-month decreases of 3.96% and 2.23% respectively, representing the lower levels of activity in these outlets during the winter month of August.

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