Cash gifts at Christmas in an international comparison: America’s most generous – …

21.12.2022 – 08:30

scholarly

London (ots)

• Vice, a leading provider of multi-currency accounts, examines the average amount of money sent abroad to family and friends at Christmas.
• Around Christmas, more money is sent from the United States to family and friends abroad
• The lowest cash prizes come from the Netherlands

Cash gifts are one of the most popular gifts under the Christmas tree this year. Consulting firm EY recently discoveredAround 44% of all Germans rely on this type of gift giving this year. Germany is no exception: this year, an average of 178.82 euros will be given at Christmas worldwide. This is according to a recent study by Vice, a leading provider of multi-currency accounts and international payments.

From more than 10,800 transfers titled “Merry Christmas,” it was determined how much money was transferred in foreign currencies to family and friends abroad. Cash gifts from Germany are above average: on average, people in this country give 196.16 euros to loved ones abroad.

The most generous cash prizes come from America

On average, 234.01 were transferred from the USA to relatives and friends around the world via Vice in December – the top ranking. Behind them are Swiss players who offer an average of 216.81 euros. Italy is third with an average of €207.63, followed by Australia with €206.48. Canada rounds out the top five: an average of 200.75 euros transferred to recipients from Canada.

Give money at Christmas? Less popular in the Netherlands

Relatively small amounts arrive for friends and family of people living in the Netherlands: in December, account holders in other countries received an average of €129.72 from the UK. Transfers from Spain are also slightly lower: 137.76 euros giving the country the last place in the ranking. Portugal is third with an average of €142.35, followed by France with €143.50. In Hungary, cash prizes averaged 149.24 euros.

Thomas Adamski, Vice’s spokesman in Germany, comments: “2022 is not an easy year in many respects. Instead of material gifts at Christmas, many people support each other financially. It is very important to reach the recipient as much as possible: anyone exchanging money abroad should compare the fees carefully. Also, do not be attracted by “0 euro offers” because many services Providers hide fees in unfavorable exchange rates. Consumers should always compare exchange rates and rely on providers that use the middle exchange rate, such as those found on Google.”

You can find all the results of the study here: https://www.datawrapper.de/_/2kkIy/

About the investigation

VICE analyzed 10,812 anonymous international transfers worldwide in December 2022. These transfers are classified as Christmas gifts in numerous translations with the title “Merry Christmas”. The respective amounts were converted into Euros on December 19, 2022.

About Vice

scholarly ( www.wise.com) is a global technology company that creates the best solution for moving money around the world. Visa’s account allows individuals and businesses to hold money, make international transfers and spend in more than 50 currencies. Banks and companies are also using the technology, which is based on a new type of international payment network. 15 million people and companies use Wise and send around eight billion euros across borders every month. This saves more than a billion euros every year when changing currencies. Vice’s mission is to make people’s lives easier and help them save money. Founded by Taavet Hinrikus and Kristo Käärmann, Wise launched in 2011 under the name TransferWise. Today, Vice is one of the world’s fastest-growing technology companies, listed on the London Stock Exchange with sales of €660 million. Overall, Wise manages the equivalent of around ten billion euros in its accounts.

Press Contact:

Klaus Keller | [email protected] | +4917674717519

Josephine Odenthal | [email protected] | +491726348905

Original content: Posted by Wise, aktuell news