Most Americans Shrugging Off Predictions of Y2K Nightmare

Most Americans believe the year 2000 computer problem will have little or no effect on their finances or their local cash machine come Jan. 1, a recent survey shows.

The upbeat report by research company Gallup comes as U.S. banks and financial companies--some of the best-prepared companies to face the year 2000--reassure customers that their banking systems will be working after Dec. 31.

Concerns that they might not be prepared to handle the date rollover could provoke a self-fulfilling prophecy in which stockpiling of money could bring the kinds of shortages people fear from Y2K glitches.

The Gallup survey, commissioned by Star Systems Inc., a U.S. electronic banking network, showed eight out of 10 cash card and debit card holders in the United States expect to be able to conduct transactions at cash machines, supermarkets and gas stations on Jan. 1, 2000.

The much-ballyhooed Y2K computer problem is based on fears that older computers and software programs will not recognize the two-digit 00 in the date, instead reading it as 1900, causing computers to crash or spew out bad data.

There is still no hard evidence that the rollover to year 2000 will trigger the widespread computer problems, blackouts and rioting that some Y2K alarmists have predicted.