Consumer Payment Card News

33% to Horde Cash for Y2K

Mattresses will be bulging on New Year’s Eve! While concern on the Y2K bug has been generally diminishing, American consumers are playing it safe. A new study projects that slightly more than 31 million U.S. households are planning to stockpile some extra cash as a Y2K transition precaution. The research, conducted by Atlanta-based Brittain & Associates, indicates these households are not planning a mere long weekend cash buffer but rather an amount necessary to see them through several weeks if necessary. This means one third of American households could have thousands of dollars stuffed under mattresses. Incidentally, over one quarter of all checking account owners in the U.S. believe that there will be some Y2K related ATM problems. The study was conducted September 8 – 12 and involved over 1,000 telephone interviews with U.S. adults (18+). For more information

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