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PPI Claims: Consumers increase cash withdrawals

Those people who are finding they are constantly withdrawing money from their bank accounts this Christmas could check to see if they are eligible to make a payment protection insurance (PPI) claim, or seek loan refunds.

PPI claims could provide the boost they need this year, as new research from Sainsbury's Finance has demonstrated that people in the UK are withdrawing more money than they were last Christmas.

Consumers will take out £11 billion from ATMs this year – a substantial increase from the £10.3 billion withdrawn last year.

This means that every minute during December, £246,000 will be dispensed by the UK's cash machines.

Alex Blake, head of ATMs at the company, said: "This party season make sure you don't leave getting your cash to the last minute."

PPI claims could particularly be suitable for the over-50s, as recent research from Saga found they spend more than £900 million on Christmas food and drink for their families.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801247634-ADNFCR

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