Half a million people are expected to lose their bank card over the festive period

Metro Bank, the UK’s newest high street bank, today reveals 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.

Almost a quarter 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 million (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 million 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 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.”

 

 

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