ATM transactions continue to rise in SA

12 Jul 2012

The average value of cash withdrawals across more than 1 500 automated teller machines (ATMs) throughout SA grew 6,77% year-on-year for June - the largest year-on-year growth so far in 2012‚ the Spark Cash Index shows.

This suggests "improved consumer spending and retail trading conditions nationally"‚ according to the index compiled by independent company Spark ATM Systems.

The index showed a slight increase in the average transaction, which was now R437,71 representing a month-on-month increase of 2,76% in June.

According to Marc Sternberg‚ managing director of the company‚ the increased cash withdrawal activity was recorded across all sectors including wholesale‚ retail‚ petrol‚ farming and hospitality.

"These increases are in line with the start of the mid-year school holiday season that kicked off towards the end of June‚ when parents typically take their children away. This is traditionally followed by increased spending on food‚ petrol and other holiday activities‚" he said.

Mpumalanga recorded the highest provincial average cash withdrawal value of R457,16 in June.

"This suggests tourism in the region is steady and Nelspruit is receiving increasing recognition as a growing business hub‚" Sternberg said.

The North West‚ KwaZulu-Natal and the Eastern Cape recorded the three highest month-on-month average cash withdrawal increases‚ at 2,36%‚ 2,34% and 2,33% respectively‚ while Gauteng's year-on-year growth of 11,18% was the highest year-on-year growth for the second month in a row.

"All provinces recorded an increase in month-on-month and year-on-year withdrawal values‚ with the exception of Limpopo‚ which showed a 0,88% decline year-on-year‚" Sternberg said.

Source: I-Net Bridge

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