In March, ATM withdrawals fell by 60 percent, with more citizens turning online to pay for goods and services.
The research revealed that 41 percent of citizens still currently prefer to pay with cash.
The reports highlight that with improvements still needed with mobile and broadband coverage, it is important to remember that 17 percent of the population still rely on cash every day.
Approximately 1.3m adults don’t have a bank account and 72 percent of citizens feel vulnerable groups would be more likely to be scammed or defrauded in a cashless society.
The Financial Ombudsman Service recently commented that ‘if we sleepwalk into a cashless society, millions will be left behind’.
Municipal Journal - The dash from cash
University of Bristol - Where to withdraw? New research maps access to cash across the UK
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