‘Why Nott?’ – ‘Robin Hoods’ of Nottingham Lend Friends the Most

By 29th September 2016Press releases

Nottingham locals lend £82 a year to friends, double the UK average

Their most famous resident, Robin Hood was legendary when it came to helping friends out with money and new research from Paym, the UK’s mobile payments service shows the residents of Nottingham are firmly following in his footsteps. The Merry Men (and women) of Nottingham offer an average £82 a year to friends which is more than double the national average of £35.

Other generous givers in the UK include Norwich (£82), Birmingham (£46), London (£45) and Leeds (£45). The most frugal friends can be found in Sheffield where they lend a steely £11 a year. Other cities where residents are unlikely to part with cash are Brighton (£22), Edinburgh (£19), and Newcastle (£24).

While people from Nottingham are the frontrunners for the amount they’re likely to lend, residents of Leeds are the leaders when it comes to frequency helping out a friend 46 times a year, more than double the national average of 20. Brighton is bottom of the bunch, only giving on average once a year.

 

Cities with the most likely lenders:                              Cities with the least likely lenders:  

City Average number
of times they lend
to friends per year
City Average number
of times they lend
to friends per year
Leeds 46 Brighton 1
Bristol 35 Belfast 5
Norwich 31 Nottingham 5
London 30 Sheffield 6

 

Craig Tillotson, Executive Chairman of Paym, said:

“As we carry less cash, it’s good to know our friends are still happy to help out when we need some spare change. However, these dutiful donations from generous friends can soon add up. Paym allows you to pay back friends the exact amount straight to their bank account using just their mobile number. There’s no hassle of finding the right change or needing to share sort codes and account numbers, helping to keep both bank balances and friendships on track.”

To find out what really has going on in the nation’s wallets, Paym street teams have been challenging people up and down the country to take part in the ‘Change Challenge.’ The Paym teams have already visited London, Bristol, Manchester and Edinburgh but residents of Belfast still have until the 2nd October to take part in the challenge, with a chance to win £250.

With Paym, it is no longer necessary to know the account details of the person you want to pay. Paym enables more than 20 million customers of seventeen banks and building societies who use mobile banking to securely pay back friends, families and small businesses using just their mobile number. The Paym service is designed to be accessed through your bank or building society’s existing mobile banking or payments app, so it couldn’t be easier, and it’s just as quick and secure.

In excess of £245m has been sent via Paym since launched in April 2014, with 3.3m mobile numbers currently registered with their bank or building society to receive payments.

 

ENDS
For further information please contact:
Paym Press Office – 020 3217 8441, press@paym.org.uk / @paymnow

Notes to Editors:
About the research: 2,005 adults aged 18+ were surveyed from 19th to 21st July 2016 as part of an Omnibus survey conducted by Opinium for this story.

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