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Press Releases

July 07, 2008

HOLIDAYMAKERS SHUN CARDS AND TRAVELLERS' CHEQUES IN FAVOUR OF ATM

LONDON, UK, 07 July 2008 – A survey by Level Four Software, carried out by ICM Research, today reveals that British holidaymakers have become cash-and-dash fans. The ATM is the most popular form of accessing cash abroad, with 30% of British holidaymakers relying on this service when they run out of their initial cash supply. Budgeting is not a British strength it seems, with 69% of holidaymakers running out of cash during their trip abroad.

Debit and credit cards come a distant second choice behind the ATM, with only 17% preferring this method, followed by travellers’ cheques (12%) and bureau de changes (8%). Despite the growth of online and mobile banking, the ATM remains the consumers’ preferred choice and provides a crucial lifeline for topping up funds outside of the UK.

Younger holidaymakers are leading the trend, with 39% of 18 to 24-year olds preferring the ATM, while older generations are less attracted by the service. Just 23% of the over 65s and 28% of those aged 55 to 64 put the ATM top of their agenda when it comes to accessing cash abroad.

The survey also reveals that, despite the credit crunch, getting the most value for money is not the top priority among British holidaymakers. Ease of access is the most influential factor, overshadowing foreign exchange rates and risk of fraud, with 39% of holidaymakers citing convenience as the main reason for their decision about where to access cash. This is particularly the case with those preferring the ATM, with the majority (58%) saying that their choice was down to convenience of location.

However, foreign exchange rates may be a major obstacle to holidaymakers using the ATM. The majority of those favouring travellers’ cheques (28%) and bureau de changes (55%) do so to get the best rates, as opposed to just 14% of ATM users. With a third of ATM advocates not aware of the bank’s rates and fees, it seems banks have some way to go to meet the expectations of all their customers.

Ian Kerr, CEO at Level Four Software, said: “The survey clearly shows that the ATM remains the customers’ single biggest touch-point with their banks whilst abroad. While older generations continue to use travellers’ cheques and bureau de changes, the emphasis on the ATM among younger holidaymakers highlights its growing importance as attitudes towards accessing cash abroad shift. As a result, banks must continue to invest in services and innovate at the ATM, including in crucial areas such as displaying rates and charges transparently. This applies not just in the UK but across their international networks of operators in order to meet customers’ growing demands.”

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Notes to editor:

o    The research of 2015 consumers across UK was undertaken by ICM Research



Perfil de Level Four

La suite integrada BRIDGE de productos de software abierto ATM de Level Four ha sido desarrollada para dirigirse a las necesidades de usuarios de ATM que buscan maximizar su inversión en la cadena de ATM. BRIDGE se dirige a bancos y a usuarios de ATM que tienen, o desean tener, una red ATM moderna basada en el conjunto de la industria CEN/XFS estándar abierto. Como oferta realista, BRIDGE satisface las necesidades de los usuarios de ATM en las áreas de instalación, pruebas y monitorización así como la ejecución de software ATM.

Desde 1995, Level Four ha construido una considerable base global de clientes en banca y en el sector de medios de pago, incluyendo, The Royal Bank of Scotland, Lloyds TSB, National Bank of Dubai, Rabobank, LINK and Standard Bank of South Africa. La Sede de Level Four está en Dunfermline, y el resto de oficinas están en Maidenhead, Dubai y Charlotte NC.

Para mayor información, visiter: www.levelfour.com

Si desea más información, póngase en contacto con:

Martin Macmillan
Level Four Software Ltd
Tel: +44 (0) 1383 720 118
E-mail: martin@levelfour.com

Hotwire PR
Nicola Truman / Alexia Ward
+44 (0) 20 7608 2500
E-mail: levelfour@hotwirepr.com



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