"In their embargoed release dated 19 March 2007 titled 'uSwitch.com exposes the credit card cash rates scandal', uSwitch.com claims that "since the introduction of chip and PIN 730,000 people (11%) withdraw cash on credit cards on a more regular basis" suggesting that people are using their credit cards more frequently. This claim is based on unclear methodology rather than the industry-wide robustfigures, which we collate and are freely available. Therefore this statementis wrong and misleading. We would encourage uSwitch to check their facts before they make such claims.

APACS, the UK payments association, collects statistics directly fromcredit card issuers in the UK and this data clearly shows that in 2006 both the number and value of cash withdrawals on credit cards is tiny compared tothose on debit cards and for the first time last year actually fell.

The number of cash withdrawals on credit cards fell eight per cent in 2006 down to 61m from 66m in 2005. The total value of cash withdrawn declined even more, falling by 10 per cent (£0.95bn) from £9.17bn to £8.22bn

In contrast debit card cash withdrawals rose. The number of withdrawals was up by three per cent in 2006 to 2.16bn transactions from 2.1bn in 2005. The total value of cash withdrawn also rose up 10 per cent from £141.8bn to £156.2bn.

This suggests that customers do understand that taking cash from cash machines with their credit cards will generally cost them more, so they prefer to use their debit cards where they can.

For further information contact the APACS Information Office:

T: 0870 420 3208 E: apacs@fourcommunications.com