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Banking customers could opt for debit cards

Fri, 09 Dec 2005

British banking customers are expected to rely heavily on their debit cards this December, with up to £16.5 billion expected to be withdrawn at cash machines.

A record-breaking Christmas is being predicted by ATM network, Link, which is expecting more cash machine transactions to be conducted that ever before.

"Christmas is always the busiest time of the year for cash withdrawals and this year looks no exception," says Edwin Latter, Link card scheme director.

On the busiest shopping days, the network expects up to a million Link transactions every hour. This would mean that some £500,000 will be dispensed per minute, it has been claimed.

Conversely, January is the quietest month at cash machines. Link points out that the average amount withdrawn from cash machines falls by between 15 and 20 per cent in the first month of the year.

It has been predicted that British debit and credit card holders will rely less on their credit cards this Christmas.

Figures by Apacs, the UK payments association, predicts that spending on credit cards will dip by 3.5 per cent, while debit card transactions will increase by 20 per cent.

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