Cash preferred over cards still?
A BBC News Article on the reducing circulation of £5 notes in the UK states that the average amount taken out of cash machines at one visit is £100!
That seems quite high to me given the prevalent nature of debit and credit cards, it looks like quite a few people still prefer using cash over cards. Personally I usually only withdraw £30 on each trip to the cash machine.
June 21st, 2007 at 2:31 pm
On the contrary Mike, I think that the enduring popularity of the fiver repreents, in part the popularity of cards.
I use card payment wherever possible (without financial penalty). So, unless I’m about to grab a taxi, or something, when I visit a cash machine I usually draw out the minimum amount possible as it normally lasts me so long.
June 21st, 2007 at 2:32 pm
BTW your use of the word ‘this’ as a hyperlink is very bad. The W3C would not be impressed.
See my post on the matter: Blogs, references and hyperlinks.
June 21st, 2007 at 4:26 pm
Hyperlink style corrected.
I think you’re agreeing with my point, you tend to use your card for most purchases (like I do) and so any cash withdrawals you make are fairly small. There must be a significant number of people who do not do this for the average withdrawal to be as high as £100.
June 22nd, 2007 at 2:43 pm
Ah, the good old days when you could get £5 notes from cash machines….
I use my card for most transactions. But do find it annoying that the transactions that I do use cash for (buying a pint of milk. or a paper. or a loaf of brad) really do not want to be carried out using a £20 note.
And coins are a lot harder to carry than folded paper.
June 30th, 2007 at 1:07 pm
[…] you end up when you don’t post on your weblog for six months. Mike’s recent posts on cash versus cards and his day at Wimbledon were enough to convince me that it wasn’t just a reinstall of his […]
July 2nd, 2007 at 10:22 pm
Ah… th ejoy of self checkout at Sainsburys.
I’ve used my debit card for 49p transactions at Sainsburys before.
Do big companies pay a fixed percentage of all transactions to the Visa, etc rather than per transaction minimums / percentages?
I was suprised that the machine allowed it but happy because I was caught without a penny.
July 25th, 2007 at 12:26 am
All of you are now off my “10 Best People to Mug” list.
September 12th, 2007 at 10:13 am
Array
April 11th, 2008 at 6:36 am
Blah-blah-blah. I don’t care about you opinion, your words mean nothing to me. I’m big, bad and always just.