Loose change on the way out

Nearly one in 10 people in the UK no longer carries any loose change in their wallet regularly as “tap and go” contactless payments technology has grown in popularity, a survey has found.

Some 9% of people questioned for Nationwide Current Accounts said they did not carry any coins in their wallet, with one in seven (14%) men and one in 25 (4%) women saying this.

Nearly two- thirds ( 63%) of people said other than their regular bills, they usually paid for items using their card or contactless technology.

In September 2015, the transaction limit for making a single payment using a contactless card was increased by £10 to £30, making it an increasingly handy alternative to cash.

A recent report from Payments UK predicted debit cards would overtake

“Women were more likely to carry reward cards”

cash to become the UK’s most frequently used payment method by 2021.

But despite new ways to pay, Nationwide’s survey also found cash was often still the bestoption in some situations.

One in three (33%) people said they had to use cash sometimes because cards were not accepted or the technology was not working.

Asked how often they took cash from ATMs, 40% did so weekly, 22% fortnightly and 18% monthly.

Researchers also found women were more likely to carry reward cards, money off vouchers, receipts and stamps than men.

Some2% of the people surveyed said they carried written pin numbers in their wallet or purse, making them an easier target for fraudsters if these and their corresponding card are kept together.