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Sainsbury's Finance: Debit and credit card ATM withdrawals record expected

Debit and credit cards are being used to take out what is likely to be the largest monthly amount of cash in at least six years, according to credit card provider Sainsbury's Finance.

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21 December 2009

Sainsbury's Finance: Debit and credit card ATM withdrawals record expected”

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Debit and credit cards are being used to take out what is likely to be the largest monthly amount of cash in at least six years, according to credit card provider Sainsbury's Finance.

A total of £10.6 billion is expected to be withdrawn the company, which is currently offering the Sainsbury's credit card, claims.

This amount equates to approximately £14.2 million an hour over the month.

Around £619 million more is expected to be withdrawn from ATMs using debit and credit cards this December than the same time last year.

Alex Blake, head of ATMs, Sainsbury's Finance advised: "This party season, make sure you don't leave getting your cash to the last minute - why not get your spending money whilst you're doing your shopping."

The Sainsbury's credit card has a typical variable rate of 15.9% APR. There is also 0% for the first ten months on balance transfers, with a 3% handling fee.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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