The areas which successfully applied to take part in the Community Access to Cash Pilot (CACP) initiative, such as Botton Village in North Yorkshire and Lulworth in Dorset, will work with the banking industry to look at solutions to keeping cash viable for people and businesses.
Ways to make improvements could include, for example, installing new ATMs, having a place for retailers to deposit cash locally, or sharing bank branch facilities.
There will also be a focus on ‘digital inclusion’, with better broadband connections or improved digital skills used to help people access money.
Cash use has plummeted during the COVID-19 outbreak, with many shops encouraging people to pay by card and people visiting ATMs less often.
According to UK Finance, 7.4 million people rarely or never used cash in 2019 – but 2.1 million used cash regularly.
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