PRESS RELEASE: OnePoll (DD's)
Written: Wednesday 10th June, 2009
READY MONEY
NEWS COPY
Forgetting to cancel direct debits costs Brits #390 MILLION every year, according to new research.
Gym membership, utility bills and magazine subscriptions mean the average Brit loses around #21.92 every twelve months.
The report revealed 39 per cent of Brits have forgotten to cancel a direct debit on their account since this time last year.
A spokesman for www.OnePoll.com said: ''It's very easy to lose track of direct debits but this research shows just how much our lack of awareness can add up to.
''Buy forgetting to monthly transfers means Brits are collectively wasting millions each year due to unintended payments.
''Regularly checking statements and bank transactions is so important and especially in the current financial climate when every penny counts.''
Magazine subscriptions are the most forgotten direct debits with almost one in ten still paying for publications they never get.
Six per cent still hand over money for a gym membership, despite never going and five per cent even forget to cancel direct debits for utility bills.
But the poll found the main reason people are forgetting to cancel old direct debits is because they don't keep on top of their finances.
One in five Brits don't bother looking at their bank statements, with 19 per cent not checking their transactions for a year or more.
And while 17 per cent admit they are just too lazy to read through them, six per cent say they trust their bank to pick up on any errors.
An ignorant five per cent simply don't think they will ever have any dodgy transactions.
One in ten also admitted they aren't in control of their finances, with eight per cent saying they haven't got a clue when their payments go out.
Not all people are so carefree when it comes to their banking though as 87 per cent reckon they know how much is in their bank account give or take #50 or so.
But it's not just forgotten direct debits that could be missed by those who aren't on top of their finances though 39 per cent of people have spotted a suspicious payment on their bank statement.
The poll also found that a quarter now use internet banking to check their statements, with 72 per cent of those saying it had made it easier for them to keep track of their finances.
Almost 17 per cent check their online account everyday while 62 per cent have a look online at least once a week.
ENDS
Research conducted by global market research company www.onepoll.com
