Record credit, debit card ATM use predicted

By UK CreditCards.com

Credit card fraud

Britons will withdraw a record amount of money from cash machines on their debit and credit cards this month, according to research by Sainsbury's Finance.

Sainsbury's predicts that ATMs will dispense £10.6 billion during December, representing a significant rise of £619 million from 12 months earlier.

The total figure equates to £341 million in withdrawals per day, £14.2 million per hour or £237,100 per minute and is the highest monthly volume for six years.

Alex Blake, head of ATMs at Sainsbury's Finance, said: "This party season, make sure you don't leave getting your cash to the last minute -- why not get your spending money while you're doing your shopping."

The credit card provider reached its conclusion after analysing trends between 2004 and 2009, finding that 12.4% more cash is withdrawn in December than during a normal month.

Sainsbury's became the first major British supermarket to immerse itself in financial services when it opened a bank for trading in February 1997.

It is now believed to have over 1.5 million active customers with combined deposits worth more than £6 billion.ADNFCR-2308-ID-19525397-ADNFCR

Published: 29 December 2009