Australians prefer cash

Australians are using the financial crisis to limit the use of credit and debit cards, and are using cash more frequently, according to ATM manufacturer NCR.

The company claims that out of 8447 consumers surveyed in 16 countries, of which 505 were Australian, about 36% are now using ATMs more frequently and are using smaller amounts on a day-to-day basis.

Managing director Asia Pacific for NCR Ross Checkley, says this is bringing an end to the “spend now, pay later” mentality.

“The study shows that Aussies are becoming ever more mindful of their cash and that financial prudence and sensible spending are navigating them through the current economic climate.”

The survey also shows that 49% are now leaving bill payments until the last minute to maximise the amount that can be paid, while 28% have taken out a separate savings account to set aside money for expensive purchases.

But the survey also shows customers are on the hunt for value, with 56% saying they switch between retailers to get the most from their money.