More than £1 billion could be withdrawn from the UK’s ATMs, as the King’s coronation is celebrated over the bank holiday weekend, according to an ATM network.
The forecast, covering the period from Friday to Monday, was made by ATM network Link.
As people geared up to celebrate, £735 million was withdrawn between Tuesday May 2 and Thursday May 4, marking a 9% jump on the same period last year, Link said.
Graham Mott, director of strategy at Link said: “This week has already seen an extra £60 million in cash withdrawn from ATMs when compared to last year.
“Consumers will have to wait until next year for cash to be king again, when Charles notes will officially enter circulation.”
The Bank of England expects to issue banknotes featuring the King’s portrait by mid-2024.