Debit cards 'growing in popularity'

Tuesday 05 April 2011

Article by Mozo

Financially savvy Australians are starting to use their debit cards more than credit cards in a bid to minimise their expenses, it has been suggested.

More Aussies 'are using debit cards'

In an article published by the Sydney Morning Herald, it was noted that purchases using this form of plastic rose 25.8 per cent recently compared to the year before, which represents the fastest growth on record.

Sue Mason, of Prospect, told the publication that increasing numbers of Aussies are focusing on getting the best value for money.

"With the financial crisis, if you only had so much money, and with everything costing more, you needed to do something," she asserted.

This comes after data published by the Reserve Bank of Australia revealed that people in the country spend an average of $53 million each month on transaction fees at ATMs.

Those hoping to reduce the amount they spend on this may consider heading online to compare debit cards and find one for a bank that has plenty of branches in their area.

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