ATM Cash Withdrawals Before, During and After the Covid-19 Pandemic

David Cronin and Niall McInerney
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David Cronin: Central Bank of Ireland
Niall McInerney: Central Bank of Ireland

No 6/EL/22, Economic Letters from Central Bank of Ireland

Abstract: This Letter quantifies how ATM cash withdrawals in Ireland have been affected by the Covid-19 pandemic. We find: (i) that there was a one-off downward step shift in monthly ATM withdrawals in spring 2020, with withdrawals moving in a narrow range subsequently; (ii) withdrawals have been sensitive to the degree of government policy stringency in relation to public health; (iii) against the background of the recent pickup in inflation, the nominal value of cash withdrawals is increasing in line with higher consumer prices.

Date: 2022-10
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