43% of people in Wales ‘have now visited places where cash was not accepted or discouraged’
Almost half (43%) of people in Wales have recently been somewhere where cash has not been accepted or has been discouraged, according to ATM network Link.
Car parks, cafes, restaurants and public transport are among the places where cash acceptance has begun to become particularly limited, Link’s findings indicate.
Nearly half (49%) of people across the UK affected said that being unable or being discouraged to pay in cash was inconvenient.
London was found to be the top location where people had experienced a lack of cash acceptance, with 55% of people surveyed there saying they had encountered the issue.
The North East of England was the location where people were least likely to have found a lack of cash acceptance, with just over a third (36%) experiencing it.
In Scotland and Northern Ireland the figure was slightly lower than Wales, at 42%.
Link has been regularly carrying out research to understand people’s attitudes towards cash use.
It found one in eight (13%) people have found it more difficult to keep track of their finances due to using card payments in shops instead of cash and 16% are keeping cash at home in case of emergencies.
Graham Mott, director of strategy at Link, said: “If a shop, pub or restaurant no longer accepts cash or prefers customers to pay using card or mobile payments, we can now see that almost half of people find this problematic while the other half have no concerns.
“We know some people simply prefer using cash, but there are millions who can’t do digital payments, so being unable to be pay in notes and coins is still frustrating for some.”
More than 2,100 people across the nations of the UK were surveyed in early November and asked about their experiences with cash acceptance in the previous eight weeks.
Financial inclusion campaigner Lord Holmes, who is vice chairman of the All-Party Parliamentary Group on FinTech, said: “It’s understandable that people may be frustrated in locations like car parks, but the worry of creeping non-acceptance is what happens if councils or vital services like pharmacies or supermarkets stop accepting cash.
“At the moment, it’s still not feasible to expect everyone to pay for things on their phone or via contactless.”
The Government has said it will legislate to protect the future of cash.
Rocio Concha, Which? director of policy and advocacy, said: “It’s worrying to see so many people prevented or discouraged from using cash when our research has found millions still rely on it to pay for everyday essentials or to manage their finances amid a cost-of-living crisis.
“Long-awaited legislation to protect cash must include guarantees of a minimum level of free access so that millions of people affected by bank branches closing and cash machines charging fees are not forced to pay to withdraw their own money.
“In order to avoid sleepwalking into a situation where cash users are excluded from certain services, the Financial Conduct Authority should play a proactive role in monitoring cash acceptance and taking action where appropriate.”
Here are the percentages of people across the UK who said they had been somewhere since early September where cash has not been accepted or has been discouraged, according to ATM network Link:
– London, 55%
– East of England, 49%
– South East, 46%
– North West, 46%
– Yorkshire and the Humber, 45%
– South West, 44%
– Wales, 43%
– Northern Ireland, 42%
– Scotland, 42%
– East Midlands, 41%
– West Midlands, 39%
– North East, 36%
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