Fivers are in fashion…
In a smart move to increase the circulation of new £5 notes, fivers are now being dispensed from more ATMs than ever before. In the summer of 2010, nearly 10 times as many fivers than usual were being dispensed, according to the Bank of England.
Every month, around £200 million worth of fivers are now dispensed from ATMs, after a campaign to get more banks to load cash machines with the least valuable note in circulation. Around one in eight ATMs in the UK, owned and operated by banks, now distribute the note.
The move comes after the Bank of England claimed that there was a strong business case for banks to load their ATMs with £5 notes, and after it was found the move was popular with consumers, given that £5 notes general appear to not be in circulation for very long.
The proportion of £5 notes dispensed from ATMs has risen from 0.2% of total ATM outflow value to 1.5%, surpassing the target of 1.2% by summer 2010.
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