STRATEGIC PARTNERS
January 1, 2003
LONDON -- More than £1.1 billion (about $1.76 billion U.S.) was withdrawn from BarclaysATMs in the run up to Christmas, but withdrawals were down 8 percent versus the same period last year, with more people using credit cards rather than cash for holiday spending.
According to a report in The Independent, the figures, taken from December transactions at Barclays and Woolwich's 4,000 ATMs in the UK, show the average withdrawal from its machines was £70 (about $112 U.S.). That was a slight increase from 2001, when the average withdrawal up to Dec. 26 was £68 (about $108).
The busiest day for ATM withdrawals was Dec. 21, when nearly £70 million (about $112 million) dispensed. More than 81,400 withdrawals were made on Christmas Day, when £5.7 million (about $9.1 million) was dispensed. Neither Barclays nor Woolwich charges any cardholder for making a withdrawal from their machines.
According to the Independent, £1.25 million (about $2 million) was dispensed throughout December at the group's single busiest ATM in the UK, in Walthamstow, East London.
While consumer cash spending may have slowed this Christmas, credit card usage increased in December as card holders took advantage of low borrowing rates. According to the Independent report, the Internet bank Eggpredicted that £7 billion (about $11.2 billion) will be spent on credit cards in December.
Figures from Barclaycard, Barclays' card unit, show credit card spending increased by 7 percent in the week leading up to Christmas compared to the same period in 2001.
