Latest Debt News
Brits to splash cash more than ever
09/12/2005 16:34:00
Britons are set to withdraw more money this Christmas than any other festive period, according to new figures.
ATM network operator Link estimates that a mind-boggling £16.5 billion will be taken out from cash machines during December in a record-breaking month.
Edwin Latter, Link card scheme director, said: "Christmas is always the busiest time of the year for cash withdrawals and this year looks no exception.
"By contrast, January is the quietest month for cash withdrawals, with amounts withdrawn 15 to 20 per cent lower than in December."
The evidence supports suggestions from a Deloitte report that we are going to use credit cards less this Christmas in an attempt to stay out of debt.
Instead, Brits are going to rely more heavily on making payments for presents and partying in cash and debit cards, although with so much cash being withdrawn, there is always the danger of overspending in the heat of the festive moment.
© Adfero Ltd