An interesting report by ATM firm, Link, has suggested that Brits were much more cautious with their spending over Easter, with less cash being withdrawn from machines and a drop in credit card spending.
The report shows that, although £1.66 billion was withdrawn over the Easter period, this was down by £0.3 billion since Easter last year.
What was really interesting about the report was the fact that ATM transactions were actually up by 0.3 million on the year before. So this clearly indicates that people are relying on smaller amounts from their bank accounts than from alternative forms of payment but remain cautious with their overall spending.
In addition to this, balance enquiries at cash machines increased. A Link spokesperson suggested that they increased by as much as 12%. They added:
“This is most likely due to the fact that it is the end of the month and people are being prudent about their spending, and the fact that last year Easter was at the start of the month, so people were likely to have had more cash in their accounts, and known so, than during Easter this year.”
Which is true of course… but it’s interesting that as people become more cautious with their spending they also become more vigilant over their bank accounts. With the Government demanding more and more taxes from UK people it’s easy to see why!
Creditwindow always recommends keeping a watchful eye over your bank accounts, credit cards and other financial sources to ensure you have full control and understanding of transactions, changes to your accounts, etc. When you’re taxed to the hilt you need to know where every penny is going.