Despite the pandemic’s impact on people’s wages, Brits are currently facing positive shifts
Study shows how pandemic impacted Brits’ bank accounts. Source: shutterstock.com
The research has found that Brits’ average current account balance is now higher than pre-pandemic levels. Nevertheless, many of them have also had their significantly affected by the pandemic, leaving them in a worse position.
According to data, UK customers were holding on average 11% more money in their accounts at the end of May, compared to the pre-lockdown period.
We’ve reported that spending on non-essential items among Brits was down 42% in April, compared to last year. The fact that many establishments still closed cause a drop in spending on holidays (94%) and in restaurants (75%), accounted for 11% and 9%, respectively.
Although, the survey revealed that the amount of money put towards charitable causes raised 4% in April compared to last year. It shows significant support to the most vulnerable in society during these uncertain times.
SEE ALSO:
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
