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SURVEY: Brits prefer cash
March 7, 2007
HATFIELD, England - Bank Machine Ltd., a subsidiary of Houston-based Cardtronics LP, has found that 81 percent of Britain's banked consumers who participated in a survey conducted by London-based YouGov PLC say they are aware of financial institutions' efforts to reduce cash.
According to a news release issued by Bank Machine, 75 percent of the survey's respondents say they prefer the ability to use cash for smaller transactions and are not happy with the concept of a cashless society.
Recent contactless-card trials aim to encourage a cashless society but that is not what the British public wants, Bank Machine says.
The survey also found that most consumers carry, on average, £26 (U.S. $50) for smaller purchases. Men typically carry £10 (U.S. $19.29) more than women.
The survey also found that nearly two-thirds of all transactions under £5 (U.S. $9.64) are still paid for with cash.
"At a time when consumer debt in this country is at an all time high, it is completely irresponsible of card issuers to suggest that cash transactions are somehow old-fashioned," said Ron Delnevo, Bank Machine's managing director. "It is an increasing worry that big institutions and retailers are continually attempting to manipulate the ways in which we spend our mone."
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