Christmas is undoubtedly one of the busiest times for general consumer spend, however, one of the UK’s leading banks has suggested that December 2007 will set new records for cash point withdrawals.
According to data drawn from the banks latest statistics, consumers are likely to withdraw close to ½ billion pounds throughout the month of December. There have been approximately 8 million cash point withdrawals per day in the run up to Christmas 2008, which marks an increase of more than 2 million withdrawals faired against the same time, 5 years ago.
British consumers are dependant on cash points at and around the Christmas season, as a means to quickly and conveniently access their festive funds. However, it would appear that consumers are spending a lot more than usual, as demonstrated by the aforementioned figures.
Personal loan and credit card spending has also broken records in the run up to Christmas 2008. In the case of loans, more borrowers than ever were acquiring Christmas specific funds in the month of September, where traditionally, October is noted as the official start of the festive credit rush.
