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06 July 2006
British consumers spend more after using cash machines, new figures reveal.
In convenience stores with an in-store cash machine, British consumers increase their average spend by 65 per cent after withdrawing money, claims cash machine network operator, Link.
Consumers who have visited an in-store cash machine splash out £8.99 per visit on average, compared to £5.64 for those who have not.
Removing a cash machine from a convenience store could have a detrimental effect on business, the study from consulting firm Him found, with ten per cent of consumers saying they would shop elsewhere if this happened.
Around 68 per cent of consumers now expect cash machines to be available in store.
"We fully appreciate the important role in store machines now play in expanding the cash machine network, and for many people they provide easy access to cash in convenient and accessible locations," said a Link spokesperson.
Figures from Link showed that consumers unsurprisingly favour non-charging cash machines over charging ones, with free cash machines responsible for 15 to 20 times more withdrawals.
If you are spending more than you intended and you are worried about the effects debt could have on your credit rating, the first thing to do is order your credit report and find out where you stand financially.
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