We are right not to give up on cash – but can we rely on our banks?
8 months ago

We are right not to give up on cash – but can we rely on our banks?

The Independent  

If any good has come from the largest tech outage in history, it is that it reminded the world just how reliant we have become on technology that can fail; that contactless isn’t a convenient way to pay during a digital blackout – and that old-fashioned cash has its advantages. Under new rules announced by the Financial Conduct Authority, banks and building societies will need to be alert to “cash deserts” – places with no easy means of withdrawing cash, either in branches or from ATMs – and take measures to plug significant gaps accordingly. Trade body UK Finance has released figures showing that the volume of cash payments made last year fell by 7 per cent. The pandemic’s dirty hands complicated things a bit – in 2022, cash payments rose for the first time in a decade.

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History of this topic

Government has no plans to force businesses to accept cash, MPs hear
2 months ago

Government has no plans to force businesses to accept cash, MPs hear

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. She told …

Will consumers have to pay to access cash or face a future without banknotes?
1 year, 2 months ago

Will consumers have to pay to access cash or face a future without banknotes?

ABC  

When Tony Liparto started his sporting goods and trophies business 36 years ago, nearly all his customers were paying with cash. "Those days, it was probably 96 per cent to 95 per cent cash — and then you had cheques when you dealt with clubs," he says. According to the RBA, in 2007, 69 per cent of Australians said they …

Use of physical cash one for the up for first time in at least a decade
1 year, 3 months ago

Use of physical cash one for the up for first time in at least a decade

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Across the UK, cash accounted for 19 per cent of …

Australia's transition to a cashless society raises concerns about financial exclusion, privacy and safety
1 year, 7 months ago

Australia's transition to a cashless society raises concerns about financial exclusion, privacy and safety

ABC  

Aside from those that involve the tooth fairy, cash transactions are at an all-time low. According to RBA data, just 7 per cent of Australians are "high cash users". Disadvantaged and at-risk communities The transition away from cash disproportionately affects disadvantaged groups, such as people with disabilities and those who live in remote and regional Australia who have difficulty accessing …

Banks to be fined if they fail to provide free cash machines that actually work
1 year, 7 months ago

Banks to be fined if they fail to provide free cash machines that actually work

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The new government measures will state that free cash deposit and withdrawal points must …

Australians are hoarding more banknotes but how far away is a cashless society in a digital world?
2 years, 2 months ago

Australians are hoarding more banknotes but how far away is a cashless society in a digital world?

ABC  

For many migrant communities across Australia, cash is still king. "A lot of people don't know how to use the online system or the banking system, and the fact is that they prefer to have control over their cash," she says. Tahera Nassrat says many migrants and elderly people prefer to keep cash rather than use a bank. Mr Kelly …

Cash has just five years left, warns ATM boss
2 years, 7 months ago

Cash has just five years left, warns ATM boss

The Telegraph  

The chief of the UK’s largest ATM network has warned that cash has as little as five years left, as the country’s infrastructure experiences “death by a thousand cuts”. “The cost of providing cash infrastructure, which includes the ATMs, security and bulk cash centres is huge at £5bn a year,” said John Howells, chief executive at Link. “Our cash infrastructure …

Liz Truss vows to protect right to use cash amid growth in contactless payments
2 years, 7 months ago

Liz Truss vows to protect right to use cash amid growth in contactless payments

The Telegraph  

Liz Truss has vowed to protect people’s right to use cash, as she suggested businesses should not only accept card payments. There were six billion cash payments made in 2021, down 1.7 per cent on the year before, as many restaurants, cafes and supermarkets started to refuse cash as a form of payment. However, there are still 1.1 million people …

The death of cash is making us all less human! writes JENNI MURRAY
2 years, 11 months ago

The death of cash is making us all less human! writes JENNI MURRAY

Daily Mail  

When I moved to North London some ten years ago it couldn’t have been more convenient. Every week I would pop in, maybe deposit a cheque or draw out some cash, but mostly — along with a number of friendly, chatty neighbours — I’d go to have a conversation with one of the three bank tellers who knew everybody and …

It is now or never to halt the cash crisis, says Which?
2 years, 11 months ago

It is now or never to halt the cash crisis, says Which?

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The consumer champion also sent a letter to the Treasury on Monday which says: …

Cash is still king: central bank calls for action to keep notes and coins
3 years, 8 months ago

Cash is still king: central bank calls for action to keep notes and coins

Dutch News  

The Dutch central bank has called on banks, the government and other agencies to ensure that cash remains readily accessible and available in the Netherlands for at least the next five years. Before alternative, digital payment schemes can be developed as a fall-back option to replace cash, notes and coins must be widely available and accessible, the central bank said. …

Cash is still king: central bank calls for action to keep notes and coins
3 years, 8 months ago

Cash is still king: central bank calls for action to keep notes and coins

Dutch News  

The Dutch central bank has called on banks, the government and other agencies to ensure that cash remains readily accessible and available in the Netherlands for at least the next five years. Before alternative, digital payment schemes can be developed as a fall-back option to replace cash, notes and coins must be widely available and accessible, the central bank said. …

Are we moving towards a cashless society in the near future?
3 years, 9 months ago

Are we moving towards a cashless society in the near future?

The Independent  

Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more SIGN UP I would like to be emailed about …

Cash ‘will be used for just 7% of in-store purchases by 2024’
3 years, 9 months ago

Cash ‘will be used for just 7% of in-store purchases by 2024’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Cash will account for just …

Banking industry says it will support customers who depend on cash long term
3 years, 10 months ago

Banking industry says it will support customers who depend on cash long term

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

Is it finally time to say goodbye to cash?
4 years, 1 month ago

Is it finally time to say goodbye to cash?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. In last year’s Budget, just weeks before the first …

‘Cash crash’: One in three people blocked from paying with notes and coins during pandemic
4 years, 2 months ago

‘Cash crash’: One in three people blocked from paying with notes and coins during pandemic

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. said given the low level of risk, combined with …

Cash usage halves in three years amid fears coronavirus has accelerated 'permanent' decline
4 years, 5 months ago

Cash usage halves in three years amid fears coronavirus has accelerated 'permanent' decline

The Telegraph  

Cash usage has nearly halved in three years, ATM data has shown, amid fears coronavirus has accelerated the “permanent” decline in notes and coins. Millions of people still rely on cash for their day-to-day spending, experts said while a charity warned the UK is “hurtling towards a cashless society”. Gareth Shaw, from consumer group Which?, said: “While digital payments have …

The pandemic has killed cash
4 years, 6 months ago

The pandemic has killed cash

Wired  

Getty Images / WIRED The pandemic has been quietly accelerating the steady slog towards a cashless Britain. ATM withdrawals dropped 60 per cent when lockdown began in March, according to Link, the UK’s largest ATM provider. Constituency data obtained from the GMB trade union shows that cash machines are vanishing at a breakneck rate, with an 8.9 per cent drop …

One in eight banks and cash points shut down during coronavirus
4 years, 8 months ago

One in eight banks and cash points shut down during coronavirus

The Telegraph  

One in eight banks and cash points have shut down during coronavirus due to staff shortages, social distancing and falling demand for cash. “In the places affected lack of access to cash must not become permanent because otherwise we will be creating ever more 'cash deserts' and effectively disenfranchising many older people from a financial point of view. “Before the …

Coronavirus could kill cash in 'months not years', expert warns
4 years, 11 months ago

Coronavirus could kill cash in 'months not years', expert warns

The Telegraph  

There are now “months not years” to rescue the UK’s creaking cash infrastructure, the chief of an influential review has warned, after new research revealed coronavirus could change spending habits for good. As many as three in 10 people could stop using cash as a payment method following a massive decline in withdrawals during the pandemic, experts said, prompting fears …

Cash handouts are coming as governments try to avert depression
5 years ago

Cash handouts are coming as governments try to avert depression

CNN  

London CNN Business — The damage the coronavirus pandemic is inflicting on the global economy is so severe that governments are poised to start handing out cash directly to citizens, an emergency measure to help coverfood, rent and utility payments during a period of extreme duress. But support for cash handouts in the United States could trigger a fresh wave …

The true cost of going cashless
5 years, 6 months ago

The true cost of going cashless

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. this week …

British banks are propped up by the public purse, so they should be made to serve the public interest
5 years, 10 months ago

British banks are propped up by the public purse, so they should be made to serve the public interest

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The new settlement with Britain’s banks must also recognise …

Is this the death of cash? 现金消亡的时代是否会到来
5 years, 11 months ago

Is this the death of cash? 现金消亡的时代是否会到来

China Daily  

Is this the death of cash? Since their first use, debit card payments have given cash a run for its money. 词汇表 cash is king 现金为王，现金至上 coin 铸造（货币） cash 现金 banknote 钞票 in circulation （货币）在流通 transaction 交易 wad of notes 一沓钞票 shrapnel 零钱 currency 货币 ready money 现款、现金 give something a run for its money 给…带来竞争 contactless payment 非接触式支付 stump …

UK's cash system in danger of collapse, leaving millions struggling to manage finances, report warns
6 years ago

UK's cash system in danger of collapse, leaving millions struggling to manage finances, report warns

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK’s cash system is …

Britain's cash system 'is on the brink of collapse'
6 years ago

Britain's cash system 'is on the brink of collapse'

Daily Mail  

Britain's cash system is on the verge of collapse, a report reveals today. The country’s entire ‘cash infrastructure’ – the system for handling and banking money – is increasingly at risk of ‘falling apart’, the review claims. In its final report, published today, the panel of consumer and industry experts has proposed a range of solutions, from forcing banks to …

Cashless world, digital payments and all that
6 years, 2 months ago

Cashless world, digital payments and all that

China Daily  

A consumer pays with Alipay after ordering food at the first self-service restaurant in Hangzhou, Zhejiang province. And they complained to the monetary authority when, having queued up carrying their shopping bags heavy with fresh food, they were told by the checkout people to pay the bill using the app, not cash. "We encourage diversified payment methods, either innovative ways …

Why I won’t celebrate the idea of a cashless society
6 years, 7 months ago

Why I won’t celebrate the idea of a cashless society

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Bank …

Cashless society looms as debit cards jump into lead
6 years, 9 months ago

Cashless society looms as debit cards jump into lead

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The cash free society is …

Will a cashless society lead to chaos?
6 years, 9 months ago

Will a cashless society lead to chaos?

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Lucie Greene, …

Cash crunch: Cashless economy is still far away; govt hasn't done enough to push digital transactions
6 years, 11 months ago

Cash crunch: Cashless economy is still far away; govt hasn't done enough to push digital transactions

Firstpost  

The steps thus far taken by the government are few and unsubstantial like 0.75 percent cash back on card payments in petrol bunks, waiver of user charges for online booking of rail tickets, etc. So, if there are 700 million debit cards, there are only 2.5 million PoS machines for these cards, which are concentrated in large metros.” This view …

One year of demonetisation: Cash comes at a cost, nation moving towards digital economy, says Arun Jaitley
7 years, 4 months ago

One year of demonetisation: Cash comes at a cost, nation moving towards digital economy, says Arun Jaitley

Firstpost  

Arun Jaitley said some people have problem in accepting the fact that transactions through the digital mode and banking instruments are going to witness a rapid growth as compared to cash dealings New Delhi: Ahead of the first anniversary of demonetisation, Finance Minister Arun Jaitley said on Monday that excessive cash in the economy has “its own cost” and India …

Cash is falling out of fashion — will it disappear forever?
7 years, 9 months ago

Cash is falling out of fashion — will it disappear forever?

Salon  

On June 27, the ATM turns 50. Former U.S. Federal Reserve Chairman Paul Volcker once described it as the “only useful innovation in banking.” But today, the cash that ATMs dispense may be on the endangered list. People who don’t use a bank spend about five minutes longer getting to the place where they can get cash, and unemployed people …

Surviving the Cashcalypse
8 years, 3 months ago

Surviving the Cashcalypse

Deccan Chronicle  

In an earlier era, when personal computers were just making their appearance, a much-bandied mantra was the Paperless Office. Government and corporate offices made token gestures — like allowing staff to apply for leave with an e-mail — and extrapolated this to paint a future where paper records would all but disappear. Yes we can muddle through and survive, and …

Cashless economy still a fantasy for Indians snubbed by banks
8 years, 3 months ago

Cashless economy still a fantasy for Indians snubbed by banks

Live Mint  

New Delhi: After first selling India’s cash ban as a strike against corruption, Prime Minister Narendra Modi has since pushed a tantalizing side benefit. “There is no reason we cannot move towards a cashless India,” Modi said on 27 November, reinforcing finance minister Arun Jaitley’s earlier assertion that the cash ban “will take India towards a cashless economy.” But on …

‘Less-Cash’ Society Will Bring Financial Inclusion of the Masses
8 years, 3 months ago

‘Less-Cash’ Society Will Bring Financial Inclusion of the Masses

The Quint  

Then there are aspects related to privacy that raise questions about governments and individual freedom in societies that are aiming to go cashless. The Utopian conception of a "cashless society" is still an idea whose time is yet to come. Pime Minister Narendra Modi is right when he says that the move is towards a more 'less-cash' society rather than …

In rush to go digital, don't junk cash yet
8 years, 4 months ago

In rush to go digital, don't junk cash yet

Deccan Chronicle  

Going cashless is a good idea. A 2015 World Bank survey established that increasing the number of banked people in the economy is the most relevant intervention till one reaches the level of around 800 accounts per 1,000 adults. The average use is just 12 times per debit card every year at an ATM and barely two transactions per year …

If Sweden becomes the world’s first cashless society, could the UK be next?
8 years, 4 months ago

If Sweden becomes the world’s first cashless society, could the UK be next?

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. “The declining use of cash in Sweden means that this is more of a burning issue for …

The countries where cash is on the verge of extinction
8 years, 6 months ago

The countries where cash is on the verge of extinction

BBC  

The countries where cash is on the verge of extinction Paula Bronstein/Getty Images Bundles of old bills are destroyed in a furnace in Kabul, Afghanistan Is going cash-free really ‘cleaner’ or ‘safer’? “I can’t remember the last time we received a cash payment,” says Marielle Groentjes, an administrator with the company that manages my apartment, Hoen Property Management BV, and …

The death of cash could give governments more control, experts fear
9 years ago

The death of cash could give governments more control, experts fear

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. But money experts fear that the complete disappearance of …

What would the world look like if the banks crashed tomorrow?
9 years, 1 month ago

What would the world look like if the banks crashed tomorrow?

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. The big four banks occupy 75 …

Society can't do without cash, says central bank
11 years, 9 months ago

Society can't do without cash, says central bank

Dutch News  

Debit card use is increasing steadily but cash remains the dominant form of payment in the Netherlands, according to a new report from the Dutch central bank. The volume of debit card payments at Dutch points of sale increased from €81bn in 2010 to €84bn in 2012, while cash withdrawals at ATMs dropped from €52bn to €49bn. Yet cash is …

Society can't do without cash, says central bank
11 years, 9 months ago

Society can't do without cash, says central bank

Dutch News  

Debit card use is increasing steadily but cash remains the dominant form of payment in the Netherlands, according to a new report from the Dutch central bank. The volume of debit card payments at Dutch points of sale increased from €81bn in 2010 to €84bn in 2012, while cash withdrawals at ATMs dropped from €52bn to €49bn. Yet cash is …

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