Across the country we are seeing more and more signs saying ‘Cash Only’ as people fight the ‘apparent’ swap over to card as the only form of payment.
A UK Facebook group which is now global has warned of the programmable nature of digital currency which could give governments control of how people spend their money.
Keep Cash is a group united across the world to keeping cash as a valid option for spending in high-street businesses and shops.
Taken from the Facebook group that now has over 52k supporters.
Cash is increasingly being refused or declined in spite of customer needs for no good reason and must be challenged.
Cash for spending within stores and businesses gives you digital privacy, and also helps you to keep track of what you spend more easily. Cash also helps to protect the most vulnerable in our society and makes budgeting easier. Access to Cash also is very important. Members are encouraged to keep an eye on local cash machines, reporting missing ones and complaining or sending letters to associated companies accordingly!
‘Keep it Cash’ is calling for businesses to continue to allow customers to buy products in cash currency.
Groups to ‘Keep Cash’ have been popping up across the country and engaging with the public in towns and cities to ‘open the eyes of the public’ to the importance of keeping cash.
“Keep it Cash is a worldwide movement which has gathered momentum after many retail and hospitality outlets have been restricting the use of cash,” said one spokesperson.
“The prevailing message of this campaign is freedom of choice and advice to ‘use cash or lose it’.”
In 2019 The Chancellor, Philip Hammond, said:
Technology has transformed banking for millions of people, making it easier and quicker to carry out financial transactions and pay for services.
But it’s also clear that many people still rely on cash and I want the public to have choice over how they spend their money.
I’m also setting up a group which brings together the Treasury, Bank of England and the regulators to safeguard the future of cash and ensure its availability for years to come.
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Natalie Ceeney CBE, Chair of the Access to Cash review, said:
Cash use is falling rapidly, but digital payments don’t yet work for everyone. We need to safeguard the use of cash for those who need it, and at the same time work hard to ensure that everyone can participate in the digital economy.
If we sleepwalk into a cashless society, millions of people will be left behind. I’m delighted to see the Government taking a leadership role on this critical issue – and look forward to seeing action as a result.
Found here
A number of shoppers expressed concern about not having access to cash-friendly businesses and about the growing number of venues requiring advance online bookings with card-only payments.
A lot of shoppers said that they use cash in order to budget, adding, ‘what I don’t have, I don’t spend. I never use credit cards’.
It is estimated that around 2.2 million people in the UK are still reliant on cash, with the elderly, vulnerable and those in rural communities likely to be hardest hit by a decline.
To make sure cash continues to be available to those who need it, the Government have promised:
- establish the new Joint Authorities Cash Strategy Group (JACS) – chaired by the Treasury and bringing together the regulators and Bank of England – to provide comprehensive oversight of the UK’s cash system
- support the Bank of England’s work to develop a new wholesale cash distribution system to ensure cash is being distributed as needed across the country
- develop a new coin checking and validation framework to remove counterfeits from circulation and stop them from ending up in people’s pockets
- reiterate that there are no plans to alter the make-up of coins or notes and that current cash denominations will continue in its current form
- continue to support new digital methods of payment while safeguarding access to cash for those who need it Launched at the 2018 Spring Statement, the call for evidence response is part of ongoing work to modernise UK currency, which includes the previously introduced new £1 coin and polymer banknotes
Welsh Government announced plans in December 2021 for ‘Banc Cambria’ in order to address the retreat of High Street banks from towns across Wales.
This aims to provide everyday full banking services in communities across Wales by 2023.
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