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Irish people spent over €1.3 billion on internet shopping last year - most of us used our debit cards

Irish people spent a total of €1.34 billion in December on internet shopping.

IRISH CONSUMERS ARE using their debit cards on a more frequent basis with €3.6 billion spent in December last year – up 15% on 2016′s figures.

Information released by the Central Bank revealed that debit card transactions accounted for 57% of new transactions on all cards in December. Retail and services debit card expenditure all recorded double digit increases over the year to December 2017.

Credit card spending was largely similar to the same period in 2016, experiencing a minor increase of €19 million.

Irish people spent a total of €1.34 billion in December on internet shopping, with €949 million and €389 million attributable to debit cards and credit cards.

The December value is 15% than the previous year. E-commerce accounted for 21% of new transactions on all cards during the month.  It now forms 26% of debit card spending and 40% of credit card purchases.

AIB reported a 6% increase in turnover in card sales for the sector for 2017.  The bank released its 2018 Pubs Outlook, which also finds a 6% increase in spending by UK visitors to Irish pubs in the 12 months to the end of October 2017, despite a decline in visitor numbers from the UK.

Food was a key driver of growth for the period, with food service in pubs reaching a market size of €982m in 2017, up 3% year on year. Irish publicans are accepting card payments in growing numbers, with some city centre pubs now achieving 80% of their turnover from credit and debit cards according to Visa.

David McCarthy, the bank’s head of hospitality and tourism, said: “Strong economic growth, customer sentiment, falling unemployment and a record year for tourism means that the Irish pub sector is performing strongly and there is a sense of optimism within the sector that we haven’t seen in many years.”

Read: ‘We can’t afford to give a pub €5,000′: Craft producers hit out at exclusive drinks deals >

Read: Which county in Ireland has the most pubs per person?

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    Mute Barry Somers
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    Feb 16th 2018, 8:10 PM

    At least with debit cards it’s money you actually have. Best thing I did was get rid of my credit card.

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    Mute GerryCummins
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    Feb 16th 2018, 8:17 PM

    @Barry Somers: so you couldnt help yourself but for spending? Credit cardsbare only dangerous in the hands of those that forget they have to pay it back! Much like some mortgage holders!

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    Mute Theunpopularpopulist
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    Feb 16th 2018, 8:33 PM

    @Barry Somers: too true. The one positive thing to come out of the recession (hopefully) is that people are more inclined to live within their means and less on credit. However the next credit bubble is most definitely pcp cars.

    Some people spending 20-30% of their wages on essentially renting a car. BBC panorama did a docu on it recently. Crazy stuff.

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    Mute Leitrim303
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    Feb 16th 2018, 8:43 PM

    @Barry Somers: I have had my credit card for over 10 years. I would not be without it. Can be really useful for unexpected bills like the car breaking down. Always dry to pay it back within the month

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    Mute Leitrim303
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    Feb 16th 2018, 8:44 PM

    @Leitrim303: Try??

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    Mute michael heery
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    Feb 17th 2018, 3:14 AM

    @Barry Somers: Getting rid of cell phones and sneak charges is on my list.. bet the banks are going crazy as no high interest credit cards like before, i was suicidal over a credit card…

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    Mute Tippgirl
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    Feb 17th 2018, 1:11 PM

    @Barry Somers: yes, but now you pay bank charges for every transaction you make (unless you are lucky enough to have a hefty balance).

    If you make all your transactions on a credit card ie what you would normally use ur debut card for), and make one transfer to pay it off, you’ve saved a fortune in transaction fees.

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    Mute Liam McGowan
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    Feb 16th 2018, 8:43 PM

    Am confused by above headline and story:
    “Irish spent €1.34 billion last year” “spent €3.6 billion last December” “spent €1.3 billion last December”
    Proof reader needed….salary €13,000 per annum or €36.000 per month.

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    Mute Ciarán Doyle
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    Feb 16th 2018, 9:36 PM

    @Liam McGowan: headline figure is online shopping. December figure is overall spending.

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    Mute Padjii
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    Feb 17th 2018, 12:50 AM

    @Liam McGowan: reading teacher required, basic numeracy would be a help

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    Mute Mary Murphy
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    Feb 17th 2018, 2:43 AM

    @Liam McGowan: you are correct that the article is not great on details. It is really misleading. Apparently we spent, on the internet, over 1.3bn last year and 1.34bn in December. 1.34 is indeed over 1.3, but what about the other 11 months of the year. I could write we spent over 1 EUR on internet shopping last year and 1.34 bn in December , still accurate but very misleading.

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    Mute Kp Gumbo
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    Feb 16th 2018, 8:09 PM

    Nobody should use a debit card for online shopping

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    Mute Free speech has to return here
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    Feb 16th 2018, 8:13 PM

    @Kp Gumbo: No, our gombeen government and EU should reward debit card users and give them credit card no risk style protection.

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    Mute Pat Bateman
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    Feb 16th 2018, 8:19 PM

    @Kp Gumbo: I reckon you’re mixing up debit and credit

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    Mute Kp Gumbo
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    Feb 16th 2018, 8:20 PM

    @Free speech has to return here: but they hav’nt. You could lose everything in your current account by using your debit card but your credit card has set limits !

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    Mute Daffy the Bear
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    Feb 16th 2018, 8:21 PM

    @Kp Gumbo: why?

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    Mute Kp Gumbo
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    Feb 16th 2018, 8:22 PM

    @Pat Bateman: I think not !

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    Mute Kp Gumbo
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    Feb 16th 2018, 8:26 PM

    @Pat Bateman: “As much as you might resist it, debit cards should not be used to pay for online transactions; a credit card is always safer for e-commerce. You’re not as protected against fraud when you use a debit card, and disputes with those cards can be difficult to resolve. Plus, if someone steals your debit card number, your entire bank account is vulnerable.

    Credit card users are protected by the Truth in Lending Act, which says you’re not liable for any debts if you report that your card has been lost or stolen before unauthorized transactions are made. Additionally, there’s a $50 limit on liability, even after your missing card has been used “

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    Mute Pat Bateman
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    Feb 16th 2018, 8:27 PM

    @Kp Gumbo: if you’re talking about from a security point of view, you’re covered by the banks if you get scammed. That shouldn’t be a factor.

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    Mute Leo Bissett
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    Feb 16th 2018, 8:29 PM

    @Free speech has to return here: Agree. It might also stop people buying stuff they dont really want but came across it online. It could also save a lot of people getting into trouble with credit card companies. It is quite easy to get a credit card and spend what you dont actually have. Better debit card system is the safest way to go for a lot of people.

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    Mute Kp Gumbo
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    Feb 16th 2018, 8:30 PM

    @Pat Bateman: try getting all your money back if your current account is emptied. Not much of a chance !

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    Mute Pat Bateman
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    Feb 16th 2018, 8:31 PM

    @Kp Gumbo: Thats from an American website? The truth in lending act doesn’t apply to Ireland.

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    Mute Kp Gumbo
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    Feb 16th 2018, 8:39 PM

    @Pat Bateman: same logic here. If card details are stolen you have a limit on your credit card but your current account is wide open. It’s not easy to get your money back when using a debit card.

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    Mute Theunpopularpopulist
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    Feb 16th 2018, 8:58 PM

    @Kp Gumbo: our (mine and my partners) joint account debit card was skimmed when we were in South Africa (we didn’t use any atm just used in restaurants scarily) was either skimmed or someone took down/photographed the card details. Got all the money back within a few days.

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    Mute Pat Bateman
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    Feb 16th 2018, 8:58 PM

    @Kp Gumbo: I’m telling you it is. Ring the bank, tell them ‘I didn’t authorize that transaction’ and the money will be back in your account in a week.

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    Mute Ed King
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    Feb 16th 2018, 11:45 PM

    @Kp Gumbo: It’s very easy to get your money back.

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    Mute Neal Ireland Hello.
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    Feb 17th 2018, 6:01 AM

    @Kp Gumbo: You could get run over crossing the road, too.

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    Mute P.J. Nolan
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    Feb 17th 2018, 10:06 AM

    @Kp Gumbo:
    Sounds like you work for a credit card company.
    I too had my debit card details stolen just over a year ago, got every penny back.

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    Mute Dermot Mc
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    Feb 16th 2018, 8:22 PM

    Top tip. Amazon.de , es and .fr because screw sterling exchange rates and sorry we dont ship to Ireland.

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    Mute Tweety McTweeter
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    Feb 16th 2018, 8:40 PM

    @Dermot Mc:

    Erm, Sterling is very weak at the moment. It’s a great time to be buying from amazon uk

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    Mute Dermot Mc
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    Feb 16th 2018, 8:47 PM

    @Tweety McTweeter: true but the amazon exchange is pants

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    Mute Vigo the Carpathian
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    Feb 16th 2018, 9:10 PM

    @Dermot Mc: Just select the option to be charged in Stg and you’ll get that days exchange rates…

    20
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    Mute Shougeki
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    Feb 16th 2018, 9:36 PM

    @Vigo the Carpathian: use revolut to change to sterling in advance as amzn exchange rates fsck you.

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    Mute Davy Boy
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    Feb 16th 2018, 9:58 PM

    @Dermot Mc: check out Parcel Motel

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    Mute Brendan Hughes
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    Feb 17th 2018, 12:31 AM

    @Dermot Mc: yes , at the moment. But new EU legislation is about to put an end to geo blocking.

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    Mute Tippgirl
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    Feb 17th 2018, 1:07 PM

    @Davy Boy: or Address pam, slightly cheaper.

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    Mute Jengis O'Can
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    Feb 16th 2018, 9:21 PM

    The only safe way to shop online is by Credit Card.
    That way you are protected against fraud by the Credit Card Company’s own Insurance – and will be reimbursed any fraudulent transaction (but you have to prove it was fraudulent with back-up emails, receipts etc). It happened to me over last year’s Black Friday/Cyber Monday online Christmas deals… was reimbursed for the only fraudulent transaction I was scammed by.

    You cannot be reimbursed for fraudulent Debit Card transactions.

    With Credit Cards, you get 56 days credit without interest charges. After 56 days, your interest charges are phenomenal, which is why so many people are caught out by paying the minimum payment, not realising their Credit Card A/C is being hit with huge interest on the unpaid amount.

    By Direct Debit (DD), I’ve arranged with my bank for my Credit Card repayments to be fully paid out of my Debit Card a/c before the 56 days expire. Result? Two months interest free-loan. A sort of short-term relief in times of need when your Debit Card a/c doesn’t have enough money to cover any particular transactions.

    Use the free mabs.ie site for advice on how to manage spending.

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    Mute Fergus Flanagan
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    Feb 17th 2018, 2:32 AM

    @Jengis O’Can: You absolutely can get fraudulent debit transactions reversed. The charge back process. Ring your bank if you doubt me.

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    Mute zacaramanta
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    Feb 17th 2018, 7:41 AM

    @Fergus Flanagan: no you cannot I got scammed on a villa in December €2300 transfer open 24 pmtsb gone webste disapeared there bank was in Spain

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    Mute Jengis O'Can
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    Feb 17th 2018, 5:45 PM

    @Fergus Flanagan: I stand corrected, thank you.
    I was led to believe it only applied to credit cards. See http://www.aibms.com/help/management-tasks/dealing-chargebacks/

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    Mute Milkman Man
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    Feb 16th 2018, 10:09 PM

    If one used a credit card and if there was an issue re fraud or a dispute ..then it’s not your money being affected ..its the banks money ..

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    Mute Just Some Guy
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    Feb 16th 2018, 9:31 PM

    The first time I ever shopped online was by a 3V Voucher where you have to top it up to use it Great times it was but no longer use it since I have a debit card from the bank.

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    Mute Peter Jo
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    Feb 17th 2018, 9:16 AM

    Just set up a PayPal acc. No need for any details on line and very safe. Can’t get scammed and if any problems arise very easy to get refunded.

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    Mute John Rownano
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    Feb 17th 2018, 9:38 AM

    A lot of money is leaving the country It is cheaper to purchase just about everything
    online from the EU and have it delivered to your door than from an Irish source I recently purchase a ultrarwide monitor 150e cheaper than any Irish online source even those that claim to PRICEMATCH the reason given over the phone in one case was higher Tax Insurance VAT Rates electric etc High charges here in Ireland,
    If you use Amazon or Ebay you will get a better rate for sterling from your bank so pay in GBP rather than Euro same applies if you use paypal they also have a high conversion rate and fees

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    Mute Jengis O'Can
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    Feb 17th 2018, 5:55 PM

    @John Rownano: Not always necessarily that much cheaper.
    Online purchases over €22 are subject to VAT and Customs charges, which you must pay to An Post or a courier company before the package is handed over to you, which can add up to 40% to the online price.

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    Mute DeFonz
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    Feb 17th 2018, 9:23 AM

    don’t believe in credit cards and bitcoins

    stuff the cash up the cd-rom tray

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    Mute Pj Browne
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    Feb 17th 2018, 7:39 AM

    1.3 billion spent on internet shopping.and most of used our debit cards what else were we supposed to use.they stopped excepting butter vouchers a couple of years ago

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    Mute Tippgirl
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    Feb 17th 2018, 1:13 PM

    If you use a credit card for your normal banking transactions, and use one transfer to pay the c.card at the end of the month, you save a fortune in transaction fees, unless of course you have a healthy balance and don’t have Bank charges.

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    Mute Robert Hughes
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    Feb 17th 2018, 12:48 PM

    How else are you going to pay ????
    Ffs.

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