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PULSE study: Americans value ATM cards more than newspaper, cable TV or Internet

December 9, 2001

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HOUSTON -- U.S. ATM cardholders value their cards more than they do their newspaper, cable television, or other everyday products and services, according to a recently released national consumer study commissioned by PULSE EFT Association, one of the nation's largest EFT systems.

The study, conducted by Houston-based Analytica, Inc., found that the debit card ranks second only to the home telephone as a coveted asset. On a scale of 1-to-10, with 10 representing "extremely important,' cardholders placed an average value of 7.58 on their ATM/debit card. In contrast, the same group rated cable television at 5.73, Internet access at 5.67 and the newspaper at 4.75.

"One of the more interesting findings of this study is that many American consumers consider their ATM card more valuable than other everyday conveniences for which they pay considerably more,' said Stan Paur, PULSE president and chief executive officer.

The study also showed that an overwhelming 84 percent of all cardholders are satisfied with the current functionality of their ATM card.

Analytica surveyed 2,200 adults with checking, savings or share draft accounts in 16 states in the PULSE service area.

The survey also showed that nearly 68 percent of consumers are have used their ATM cards to pay for products at supermarkets, convenience stores and other merchant locations, and 45 percent had gotten cash back when making a purchase with their card.

ATM cardholders typically used their card 4.78 times during a two-week period, approximately 3.12 times to make a purchase and 1.65 times at an ATM. The study also revealed additional information about the growing use of ATM cards and expanding consumer understanding of the versatility of debit cards in facilitating various financial transactions.

Among other findings:

• Among all consumers surveyed, 64 percent currently have an ATM card.
• During normal business hours, a majority of all persons (55 percent), including those without cards, selected using their debit card at an ATM or getting cash back when making a purchase as their preferred method of getting cash.
• Of those with cards, nearly 80 percent prefer to get cash using their card as compared to alternatives such as cashing a check.
• When getting cash back, 64 percent of consumers get $20.
• The single most relevant demographic variable impacting whether a person has or uses an ATM card is age. Persons 18-44 are far more likely to carry and use a card than those 45 and over.