A man uses an ATM at a Chase Bank branch, now managed by Kenya Commercial Bank after its reopening in downtown Nairobi

ATMs are over 50 years old, and their days are numbered

51 years

This week in 1967, the world’s first ATM was installed in Britain. Over half a century later, the cash machine is declining in a cashless world.

Published   |  Photo by Reutrs/Thomas Mukoya
A man uses an ATM at a Chase Bank branch, now managed by Kenya Commercial Bank after its reopening in downtown Nairobi
51 years

Nowadays, Brits are turning away from cash. Electronic debit card payments outnumbered physical money for the first time last year, according to UK Finance data.

A man uses an ATM at a Chase Bank branch, now managed by Kenya Commercial Bank after its reopening in downtown Nairobi
51 years

Unsurprisingly, the number of ATMs in Britain has been shrinking alongside the drop in physical cash transactions.

A man uses an ATM at a Chase Bank branch, now managed by Kenya Commercial Bank after its reopening in downtown Nairobi
51 years

Number of ATMs in the UK

A man uses an ATM at a Chase Bank branch, now managed by Kenya Commercial Bank after its reopening in downtown Nairobi
51 years

In 2017, there were about 69,600 ATMs in the UK, according to LINK, the network connecting nearly every UK cash machine. This is down from the all-time high of 70,600 in 2015.

A man uses an ATM at a Chase Bank branch, now managed by Kenya Commercial Bank after its reopening in downtown Nairobi
51 years

The decline comes from fewer fee-charging ATMs, which now account for less than 3% of cash withdrawals. Free-to-use ATMs, however, are still growing in numbers.

A man uses an ATM at a Chase Bank branch, now managed by Kenya Commercial Bank after its reopening in downtown Nairobi
51 years

Average ATM fees by type

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