Nationwide has issued a warning regarding a potential £337 scam affecting 46 million households across the UK. The building society, which operates branches in Birmingham, estimates that 46 million people in the country will be watching the FIFA World Cup 2026, set to begin in just one week.
Spending Surge Expected
According to Nationwide, one in four individuals plan to seek last-minute tickets if their team performs well, with the figure rising sharply to 43 percent should their team reach the semi-finals or beyond. However, the financial institution cautions that scams are on the rise, with ticketing fraud potentially costing victims an average of £337.
Nationwide, competing with banks such as Santander, HSBC UK, NatWest, Lloyds, and Barclays, has highlighted the anticipated increase in consumer spending. A survey reveals that 27 percent of people expect to spend more during the tournament, while a quarter (25 percent) anticipate spending an additional £50 to £100 across June and July.
Consumer Behavior Insights
Based on Nationwide customer spending data from the 2024 Euros, the average spend on takeaways per transaction was £23. However, spending is predicted to be higher during this year's World Cup. One in five respondents said they would buy a shirt or kit, while 14 percent plan to purchase flags, and another 14 percent intend to buy World Cup-related clothing.
Mark Nalder, Payments Director at Nationwide, commented: “Our research shows what a social nation we are – it’s great to see events like the World Cup bringing people together. Whether it’s picking up treats from the supermarket, ordering a takeaway, or buying a team shirt, many of us are planning to spend this summer. Our app is there to help people manage their money with features like Impulse Saver and budgeting tools.”
Caution Against Scams
Nalder added: “Just a word of caution as World Cup FOMO starts to kick in. Our own data shows victims lost on average £337 on ticket scams over the past year, highlighting the need for a calm, clear head when making any purchases.”
