Campaigners are calling on the Government as a matter of urgency to introduce legislation to preserve cash.
They fear that unless it fulfils a promise made 317 days ago to legislate to ensure nationwide access to cash, high streets will soon become cashless zones.
Research published by consumer group Which? in the last few days shows that a third of consumers have been told by a retailer since the pandemic that they cannot pay for shopping by cash – and must instead use contactless payment or a card. Last year, the value of all contactless payments increased by seven per cent in response to the higher £45 spending limit and retailers snubbing cash payments.
Under threat: Campaigners fear high streets will soon become cashless zones
Natalie Ceeney conducted an exhaustive study into access to cash in 2018 and 2019. She says the findings by Which? are ‘alarming’.
She told The Mail on Sunday: ‘How are we going to react when it’s a pharmacist or supermarket that will not accept cash, denying some people who prefer to use cash – for example, the elderly and vulnerable – the chance to buy medicines or groceries? We need to sort this out because what’s the point of cash if you can’t spend it.’
The Government has so far backed a proposal to allow retailers to broaden the appeal of their free cashback facilities – by permitting shoppers to get cash without having first to make a purchase.
Yet it has failed to draw up any legislation that would require the banks to maintain high street access to cash in all major communities through branches or free-touse cash machines. HSBC is the latest bank to announce plans to trim its branch network – culling 82 branches this year.
It leaves Santander and NatWest as the only major banks yet to announce any closures for this year. On Friday, both told the MoS they currently have no plans to axe any branches.
