March Spark Cash Index Shows Increase in ATM Withdrawals

Latest statistics released by the Spark Cash Index (SCI), which measures the average value of cash withdrawals across more than 2 300 Spark Automated Teller Machines (ATMs) throughout South Africa, showed a marginal increase in ATM withdrawal levels for March.

The SCI revealed a month on-month increase of 0.29% in average cash withdrawal figures for March 2014 to R477.35. Ryan Tzamtzis, Operations Executive of Spark ATM Systems, says that the statistics for the month are consistent with trends for this time of the year. Typically consumers exercise caution in their spending in March ahead of the Easter break.

All site types recorded month-on-month increase in cash withdrawal values, except leisure and hospitality sites which recorded a decrease of 2.12%. Retail, wholesale, petrol, leisure and farm sites all recorded a year-on-year increase. The farming sector recorded the highest year-on-year increase of 6.61% and the highest month-on-month increase of 5.9%.

You can see the full report at SparkATM.