Many Plan To Withdraw Cash for Y2K
WASHINGTON, May 21, 1999 (AP Online via COMTEX) -- Almost two-thirds of
people questioned in a survey about the Year 2000 computer problem said
they expect to set aside extra cash in the days before New Year's, but
most said it won't be a large amount.
The Gallup poll of 1,606 adults, released today, also showed that the
vast majority -- nearly 79 percent -- said they fully expect the Y2K
problem to have ''little or no impact'' on their personal finances.
The findings reflect a shift in the nation's mood -- from early fears
of Y2K problems causing widespread failures to more recent views that
the date rollover will more likely present scattered inconveniences.
The poll, conducted by telephone, was commissioned by Star Systems
Inc., the nation's largest electronic banking network, with its Honor
and Star automated teller machines, which serve 79 million customers.
''Clearly, the public is becoming more confident as they learn more
about Y2K preparations, including testing, that the financial and
electronic funds transfer industries have been making,'' said Ronald V.
Congemi, Star's president.
Congemi said the results showed 80 percent of people expect to be able
to conduct transactions at ATMs or grocery stores and gas stations on
New Year's Day.
''We're excited that consumer confidence has risen so high,'' he said.
Government experts have lauded the nation's financial industry for its
work preparing for the technology problem, when some computers
originally programmed to recognize only the last two digits of a year
could interpret 2000 as 1900.
Most financial institutions -- which are federally regulated -- have
set June 30 as a target date for completing all their Y2K preparations.
Sixty-four percent of those surveyed said they plan to withdraw extra
cash before Jan. 1, but 52 percent said the amount won't exceed what
they typically spend for a weekday, weekend or holiday.
''Hopefully, these people will follow the advice of numerous government
and consumer organizations, recommending that people make any
withdrawals in small increments well in advance of Dec. 31,'' Congemi
said.
The telephone survey was conducted April 7-22, with a margin of error
of plus or minus 3 percentage points.
Copyright 1999 Associated Press, All rights reserved.
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By TED BRIDIS |
