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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

20 new jobs created as Argos to open new store inside Sainsbury’s West Green, Crawley

The store opens tomorrow (July 26th).

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The expansion of Argos stores within Sainbury’s continues with one now opening inside Crawley’s West Green store.

With huge pressure from online stores Argos has had to find a way to survive and its partnership with Sainsbury’s has seen the store evolve considerably.

Argos is now relying on what they call their ‘market-leading Fast Track Delivery and Click & Collect‘ and says that around 20,000 products can be ordered for same day collection in store and for home delivery in as little as four hours.

The new store will also have a Pay@Browse area with tablets that allow customers to make purchases for their products instead of the old catalogues and paper/pencil combination.

Martin Cawdry, Sainsbury’s West Green Store Manager said:

“We are thrilled to welcome the Argos team and even more fantastic colleagues to our store in Crawley.

The opening is great news for our customers, who are always looking for easier, more convenient ways to shop. We look forward to offering them an exciting range of products at fantastic value.”

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