Content begins

Check your current account funds this Christmas

22 December 2006

Shoppers could benefit from checking the amount of their existing funds this Christmas, as the rush to buy presents could lead to people overspending.

According to Sainsbury's Bank, 20.1 million consumers plan to leave their shopping until Christmas Eve, when a total of £1.14 billion is expected to be spent throughout the UK.

Of this, an estimated £200.6 million will be spent using credit, leaving the remainder to come from existing funds.

However, this could provide shoppers with an opportunity to ensure they have sufficient funds or potentially risk being charged overdraft fees or levies for bounced cheques.

Yet, if there is the need to resort to using a form of credit such as a credit card, Donald MacLeod, credit card manager at Sainsbury's Bank, recommends choosing one with a zero per cent interest rate which can help with repayments.

In related news, Barclays has estimated that £490 million will be withdrawn from cash machines in order to fund present buying on December 23rd.

© Adfero Ltd

Send us your comments.



© 2016

MoneyExpert Limited Registered in England. Registered Number 04765843. Registered Office: MoneyExpert Limited, Huxley House, Weyside Park, Catteshall Lane, Godalming, GU7 1XE. Data Protection Licence Number Z8204138. MoneyExpert Limited is authorised and regulated by the Financial Conduct Authority. FCA regulation number 679652.

Terms & Conditions Privacy Policy Cookies Site Map Complaint Handling