Do you suffer from ATM amnesia?

22 July 2013

More than half of Brits (59%) admit to forgetting what they do with the cash they withdraw from ATM machines, a survey from Barclaycard has found.

Sufferers of so-called 'ATM amnesia' are losing track of around £20 every week, which stacks up to £1,040 each year.
By the end of each month only a third of those surveyed (36%) said they could account for all of their cash spending.

Women are slightly more likely to lose track of their spending on a weekly and monthly basis than men. More than two-thirds of women (61%) said they often can't account for how they spent their last cash withdrawal, compared to 57% of men.

Similarly, 34% of women admitted to being able to account for all of their cash spending at the end of an entire month, compared to 39% of their male peers.

Meanwhile, those aged between 18 and 24 were most likely to have suffered ATM amnesia than any other age group, with 69% admitting they can't account for how they spent their last cash withdrawal.

Forgetting how they spent their change after breaking into a note was found to be the most common (32%) symptom of money memory loss and one in five people (19%) said they found notes and coins too hard to keep track of.


Tami Hargreaves, head of contactless delivery for Barclaycard, said: "At one time or another, most of us have found ourselves staring down at an empty wallet when we swore we still had a tenner on us. ATM amnesia can affect even the most organised of people. Smaller payments here and there quickly add up and cash can easily disappear in an instant without remembering exactly where we spent it."
Barclaycard suggests getting a receipt to track your cash withdrawals – something 37% of us already do – and making the most of ATMs' balance checking functions.

Do you remember exactly how you spend cash withdrawn from an ATM? Let us know in the comments below.

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