60 cashline machines removed from Fife towns, new data reveals

The biggest losses have come in the Glenrothes constituency which has seen a 20% loss overall.

Online trading platform CMC Markets studied House of Commons data relating to the number of ATM closures across the UK to get a picture of how the country has moved closer to becoming a cashless society.

Glenrothes now has 9.2 ATMs per 10,000 residents, and has lost 21 in total since 2018.

In North East Fife the figure is 8.6 per 10,000 residents, with 11 losses, giving a 13.3% drop.

The Kirkcaldy and Cowdenbeath constituency has recorded a loss of 20 ATMs - a drop of some 16.5% There are now 10.4 ATMs per 10,000 residents.

In the Dunfermline and West Fife constituency, 15 ATMs have gone, a drop of 13.4%

When considering the number of ATMs per 10,000 people, Falkirk was found to be the easiest area to access cash, not just in Scotland but across the whole of the UK, with 37.3 ATMs per 10,000 residents. It came out better than even the Cities of London and Westminster constituency.

Aberdeen South saw the biggest shift to cashless transactions, with a 36% reduction in ATMs

Michael Hewson, chief market analyst at CMC Markets, said: “During the COVID-19 pandemic, consumers were reminded that using digital payment options over cash would allow them to pay for goods and services in a safer manner.

“Many found this to be more convenient than withdrawing cash, and it appears to have only accelerated the already existing shift towards digital banking.

“By analysing the rate at which ATMs have closed over the past four years, we were able to see which areas are likely to go cashless first, as well as the areas with the easiest access to cash machines.”

“With older generations being more reliant on cash machines, increasing closures of ATMs may exacerbate the digital divide unless banks continue with measures that aim to improve digital literacy.”

The average rate of ATM closures was found to be 18.3% across all areas of Scotland.