Results revealed by digital bank, N26, today show a drastic shift in consumer behaviour and a move away from cash to avoid ‘dirty money’, with a decrease of 56% in ATM transactions since Ireland’s lockdown to deal with Covid-19 began. As Irish people move from cash and card-present transactions to e-commerce, N26 highlights that e-commerce now makes up 7% more of the average consumer’s spend than it did four weeks ago. Even though payments across the board have dropped, (an outcome of the lockdown’s closure of shops, bars and restaurants), consumer spending has increased by an average of 16% per transaction. 

Consumer spending behaviour has also changed over the last four weeks, according to the data from N26. In weeks one and two, grocery stores were the strong players, along with and its various subscription offers, (iTunes, iBook, iCloud, etc.) and Amazon. This has shifted in weeks three and four to include media-service providers such as Netflix, as well as food delivery services such as Deliveroo, both now among the top 10 merchants. This shows that Irish customers are adapting their spending behaviour to the new isolation conditions. As a matter of course, travel, urban mobility, nightclubs and out of home entertainment have fallen well down the list.


With reduced outside-shopping time and very few shopping options available, payment volumes fell less than the number of transactions, with people making fewer purchases but spending more each time. Volume and number of transactions in Ireland in the first two weeks of lockdown in comparison to the second two weeks have decreased respectively by -34% and -44%. Among the different types of transactions, ecommerce is the one suffering the least, perfectly in line with the lockdown situation.

Speaking about the recent consumer behavioural trend in Ireland, Sarunas Legeckas, N26 General Manager for Greater Europe says, We expect this trend to continue for some time and potentially have a lasting effect as more customers across various age groups see how easy, convenient and secure cashless payments can be.” 


To find out more about N26 and their 100% digital banking experience, that is designed to be simple and transparent, visit Centered around you, N26 is an app that feels good to use, integrating the most innovative technology to make lifeasier, and enabling you to live and bank your way. 

By Jim O Brien/CEO

CEO and expert in transport and Mobile tech. A fan 20 years, mobile consultant, Nokia Mobile expert, Former Nokia/Microsoft VIP,Multiple forum tech supporter with worldwide top ranking,Working in the background on mobile technology, Weekly radio show, Featured on the RTE consumer show, Cavan TV and on TRT WORLD. Award winning Technology reviewer and blogger. Security and logisitcs Professional.

One thought on “ATM transactions down 56% but up 16% per transaction online. #N26 #Banking”
  1. It’s going to take a long time still but it does seem like there’s growing evidence that ATMs will slowly go the way of pay phones as people and financial systems slowly make the transition to essentially all-digital banking.

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