A new online map of payment methods shows some surprising regional variations. Londoners use cheques more than the rest of the country, while in Scotland they are far less popular.
The Payments Council have produced a new map showing how payment preferences vary from region to regions across the UK. Plastic cards (credit and debit) are most popular in the South East, for example, with 97% holding at least one, while in the West Midlands this figure falls to 86%. The national average is 92%.
Cheques used more widely in London
Londoners are revealed to be surprisingly keen on cheques. 39% still use cheques to make spontaneous payments, higher than the national average of 31%. In Scotland, by way of contrast, only 20% now use cheques, a 7% fall from the previous year. Earlier this week, the Payments Council announced that cheques were due to be phased out in 2018, provoking considerable comment. Which? personal finance camapigner, Vera Cottrell said: ‘It is wrong to set a firm end date for the cheque before the banking industry has actually come up with alternative payment methods that are cheap, safe and easily accessible – and which are suitable for those people who currently rely on cheques.’
Internet banking popular in South East
Telephone and internet banking is most popular in the South East, where 59% of adults use it. Some 50% use these services to make payments, while the national average for telephone and internet banking is 53%. In the North East just 46% use either.
Cash withdrawals popular in Scotland
Cash machine withdrawals are more frequent north of the border, with an average of 67 per person each year. In London the number drops to 63. The national average is 59 withdrawals, with those in East Anglia making the fewest, just 51 each year. East Anglians still use cash however, as the amount they take out each year (£4,931) is actually higher than average (£3,889).
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