Related Articles
Top Stories
May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 28 2012 07:53
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Johannesburg - The Spark Cash Index on Tuesday revealed that the average value of cash withdrawn during July 2010 was R412 per withdrawal, representing an increase of 9.10% over July 2009.
"The index shows a slight drop from June 2010 which had an average of 413 rand, an indicator that the FIFA World Cup potentially attracted higher withdrawal values in the June leg of the competition versus the later July stages," said Marc Sternberg, MD of Spark ATM Systems.
July 2010 now represents the third highest absolute value and the second highest year-on-year increase recorded in the Spark Cash Index. Tourism and local consumer spending during the event was a major contributing factor to July 2010's large increase over the same period last year.
The Spark Cash Index also monitors the split of international versus local cardholder cash withdrawals.
"It is interesting to note that during the FIFA World Cup - 11 June to 11 July - international withdrawal volumes as a percentage of total
withdrawals increased by 75% and comprised 7% of all ATM transactions, compared to 4% for the same period in 2009," Sternberg said.
The index also shows that average international cash withdrawals rose by 8.12% year-on-year from 628 rand to 679 rand per transaction.
- I-Net Bridge