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HALF A MILLION PEOPLE EXPECTED TO LOSE THEIR BANK CARD THIS CHRISTMAS

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·         Over 800,0002 Brits have lost their card at a Christmas party

·         600,0003  have lost their card when out Christmas shopping  

·         Customers typically have to wait up to ten days for a replacement card over Christmas and New Year

Metro Bank, the UK’s revolutionary high street bank, has revealed that half a million people are expected to lose, misplace or have their debit or credit cards stolen over the festive period. In addition to the stress of not being able to access cash, consumers could have to wait up to ten days for a replacement card from other high street banks.

BANK/ BUILDING SOCIETY

AVERAGE NO. DAYS TO WAIT FOR NEW CARD

AVERAGE NO. DAYS TO WAIT FOR NEW CARD DURING THE FESTIVE PERIOD

Barclays

2

4

Co-op Bank

5

10

Santander

5-7

13

Nationwide

3-5

10

NatWest

5

10

HSBC

5-6

12

Lloyds

3-5

10

AVERAGE

5

10

Source: secondary research based on contacting all banks and building societies referenced in table, for expected card wait times between 24 December 2016 and 3 January 2017. 

Almost a quarter (22%) of Brits have lost, misplaced or had a bank card stolen within the last five years, losing an average of two cards per year. Of those that have lost their card, one million4 (9%) did so between Christmas and New Year. Over 800,000 were at a Christmas party and more than 600,000 did so when out Christmas shopping. As the festive party season heats up, Metro Bank’s research revealed 18 – 34 years olds are the worst culprits, losing an average of three cards a year.

Just over half of those who lost their card (52%) got it back, however almost a third (31%) were unable to use it as they had already cancelled it, often causing huge frustration. What’s more, a massive five million5 people (11%) have had a banking issue over Christmas, most commonly not being able to access cash or deposit their Christmas money into their account as their branch was shut. 

Paul Riseborough, Chief Commercial Officer at Metro Bank commented: “We know how easy it can be to misplace your card or even worse have it stolen. Not being able to access your cash when you need it most is undoubtedly frustrating, and what’s worse is having to wait up to ten days or more over the festive period for a replacement card. Today’s research highlights a disconnect between the needs of customers and the priorities of many banks.

“Unlike any other high street bank, Metro Bank is able to print cards instantly in-store and through our mobile app customers can block and unblock their card in one swipe, giving them the flexibility to safely retrieve misplaced cards, rather than being forced to cancel cards that they may later find.” 

Over the festive period all Metro Bank stores will be open 8am to 6pm on Christmas Eve, 11am to 5pm on Boxing Day and 8am to 6pm on New Year’s Eve. In addition, the bank’s 24 hour locally-based contact centres are open 365 days a year.

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Business

Crawley business wins prestigious Queen’s Enterprise Award

Crawley MP Henry Smith has welcomed the announcement that Inspiration Healthcare Group in Crawley has received an award for international trade, as part of more than 200 businesses having been honoured with a prestigious Queen’s Award for Enterprise.

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Those businesses were selected for their entrepreneurship, and local company Inspiration Healthcare Group is an example of Crawley’s entrepreneurial spirit.

Henry said;

“I’m delighted that Inspiration Healthcare Group has been recognised by the Queen with such a prestigious award.

“This is just one example of a company in Crawley making a huge contribution not just to our local area, but as an innovative and talented business to our growing economy.

“It’s right that the Government are working hard to create the best possible environment to start and grow businesses, and I’m delighted that we’re seeing recognition for existing firms here in Crawley.”

The Secretary of State for Business, Energy & Industrial Strategy, Rt Hon Greg Clark MP, commented;

“We know that the UK is the best place to start and grow a business, which we will build on through our modern Industrial Strategy. These awards recognise great British success stories that are the face of this achievement, and I’m proud that so many small businesses are being celebrated by receiving a Queen’s Award for Enterprise.”

Three quarters of this year’s winners are small and medium sized businesses, demonstrating that the UK is one of the best places in the world to start and grow a business.

In addition to existing Government support; through the modern Industrial Strategy enhanced backing will be provided, including:

  • Investing £7 billion through the modern Industrial Strategy in new public funding for research and innovation – the largest ever increase.
  • Helping small businesses access the finance they need – since it was established, the British Business Bank has provided support worth £5.9 billion of finance to over 82,000 smaller businesses across the country.
  • Providing small businesses with £200 million to grow and scale-up their operations.
  • Providing a £31 million package of support for small businesses helping them to grow and reach their full potential.
  • Legislating to make it easier for small businesses to access invoice finance, providing a £1 billion long-term boost to the economy.
  • Cutting business rates for small retailers by a third for two years – saving 90 per cent of all shops, pubs and restaurants up to £8,000.

The winners will receive these prestigious awards at a Buckingham Palace reception, where their contribution to the UK economy will be celebrated. These awards recognise businesses for their contribution in four categories, with winners including:

  • 129 International Trade winners
  • 61 Innovation winners
  • Six Sustainable Development winners
  • Five Promoting Opportunity winners

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