Press Room

NatWest Takes the 'Ouch' out of Voucher
(12 December 2006)

Brits will waste more than £105 million this Christmas buying gift vouchers for people who won't use them, according to new research. And the recipients of a further £40 million worth of vouchers will say 'thank you very much' and then ask for a cash swap.

Half the 1,600 people surveyed for NatWest said they feel restricted when they get a voucher and 20 per cent have still got unused vouchers from last Christmas.

NatWest carried out the research ahead of the launch of its Gift Card, which can be 'charged' with cash once and then redeemed at hundreds of thousands of stores, home and abroad, giving people much more choice.

The poll revealed that 57 per cent of recipients end up buying something they don't really want, just to get rid of the unwanted voucher. But what really annoys two thirds of Brits is when shops refuse to give them change in cash but hand over yet more vouchers, or don't give any change at all.

Any value between £10 and £250 can be loaded on to the NatWest Gift Card and it can then be used as many times as desired until all the money on it has been spent.

Helen Page, NatWest Marketing Director, said: "As Christmas can pose a real challenge for even the most imaginative shopper, we have launched the NatWest Gift Card to help ease the stress of finding the perfect present for those 'difficult to buy for' friends and relatives."

Top of the list for handing over gift vouchers at Christmas are aunties, followed by parents.

People most likely to give gift vouchers:

  1. Aunties
  2. Parents
  3. Friends
  4. Grandparents
  5. Children
  6. Uncles
  7. Boyfriend
  8. Girlfriend

Notes to Editors:

  • The NatWest Gift Card is a newer, more versatile, alternative to vouchers or one-store voucher cards and is available in all NatWest branches from today
  • The NatWest Gift Card is not limited for use at a single retailer. It can be used at almost any retailer worldwide (including online) where Visa Electron is accepted
  • The NatWest Gift Card cannot be topped up once spent
  • Any value between £10 and £250 can be loaded onto the Gift Card in increments of £1
  • There is no charge for making transactions in the UK. The only fee is £3 for the initial purchase of the card
  • The NatWest Gift Card can be used to make as many transactions as desired until the balance has been fully utilised or the card expires
  • The card holder can keep track of the available balance on the card by calling 0845 603 3621
  • When used abroad an exchange rate transaction fee (2.75% of the value of the transaction) is deducted from the balance when a purchase is carried out in a currency other than Sterling
  • The NatWest Gift Card will expire on the date printed on the card (expiry is at least 12 months from date of purchase)
  • It cannot be used to make ATM withdrawals
  • Whilst the card can only be purchased by anyone over the age of 16 it can be used by anyone.

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