Record-breaking 'season for spending' predicted

Friday, December 11th 2009

Barclays has estimated this Christmas to be a record breaker when it comes to high street spending.

Some £24,000 will be withdrawn every second from ATMs between 12:00 and 13:00 GMT on December 18th, the bank predicts.

Figures suggest a four per cent increase on debit card spending since last December will be seen - which may reach £23 billion this month.

Brian Cunnington, head of debit cards for Barclays said: "We all know Christmas is the season of goodwill but that usually means it's the season for spending as well."

Christmas shoppers will spend £650 million on debit cards throughout department stores this month and £5 billion will be taken by supermarkets, the bank predicts.

Having an extra bank holiday added to the Christmas weekend is likely to encourage more people to head to the sales this year.

Mr Cunnington reminds customers that they must be aware when using their pin in crowded places and to take care of cards when out spending.

Direct.gov.uk advises consumers shopping in the New Year sales to check items for defaults and to always keep receipts - particularly when buying presents.