Nearly half of people expect a cashless society within their lifetime – survey

Nearly half (48%) of people expect to see a cashless society in their lifetime, a survey has found. One in six (15%) people said they never carry cash on their person, a figure which is more than triple the 4% of people who said this in 2019. The proportion of people expecting to see the UK go cashless in their lifetime has increased from just over two-fifths (41%), when similar research was carried out in 2019, cash access and ATM network Link said. Seven in 10 (71%) people surveyed still have some level of everyday reliance on cash and said they had used cash in the previous two weeks. Link data shows that UK consumers are still withdrawing £209 million a day from cash machines. However, this is around a third, or £100 million, less than in 2019. Nearly half (48%) of people said they would find a cashless society problematic. In 2023, legislation was passed as part of the Financial Services and Markets Act, to protect access to cash. Consumer group Which? said the number of UK bank branches to shut their doors in the past nine years had reached the 6,000 milestone on Friday last week. There are...

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