Spark ATM Cash Index South Africa – January 2014

Latest statistics released by the Spark Cash Index (SCI), which measures the average value of cash withdrawals across more than 2 200 Spark Automated Teller Machines (ATMs) throughout South Africa, showed a considerable decrease in ATM withdrawal levels for January 2014 and illustrates that consumers have reigned in their spending following the festive season.

The SCI revealed a month on-month decrease of 6.02% in average cash withdrawal figures for January 2014 to R476.04. Ryan Tzamtzis, Operations Executive of Spark ATM Systems, says that the decrease is in line with spending trends for this time of the year. Typically consumers are cash strapped in January and exercise caution with their spending following the high levels of spending in December.

All site types recorded month-on-month decreases in cash withdrawal values, except leisure sites which recorded an average increase of 1.84%. Retail, wholesale, petrol, leisure and farm sites all recorded a year-on-year increase. The farming sector recorded the highest month-on-month decrease of 14.62% and the highest year-on-year increase of 15.85%.

Wholesale sites recorded the highest cash withdrawal value of R486.2, and the second highest year-on-year increase of 9.09%.

Farming, wholesale, retail and petrol sites all recorded month-on-month decreases of 14.62%, 8.22%, 7.61% and 4.69% respectively. Leisure sites recorded the only month-on-month increase of 1.84%.

The average year-on-year withdrawal value across all regions and site types has increased for this period. This is a good indication of the additional cash which consumers require to maintain their standard of living.

Go to Spark ATM for the full report.