Interim findings show that one in six people still rely on cash and 74 per cent of people think a cashless society would take away people’s right to choose. In 2017 debit cards surpassed cash as the most common payment method in the UK, with cash use halving over the last 10 years.
The review found that in particular rural communities that suffer from poor broadband and mobile connectivity could be adversely affected by a cashless society.
Eric Leenders, the managing director at UK Finance, said much work is being done to ensure no customer is disadvantaged: ‘From over-the-counter withdrawals through 11,500 Post Offices and cashback from retailers, to investment in ATMs and mobile bank branches to reach more rural communities, the finance industry is using a range of solutions.’
→ Express and Star - Cash is still a necessity for one in six people, review finds
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