Access to cash report published
A new report authored by ex-financial ombudsman Natalie Ceeney outlines the dangers of the UK sleepwalking into a cashless society. The report argues that “millions of people could potentially be left out of the economy, and face increased risks of isolation, exploitation, debt and rising costs.”
The report found that almost half of the population (47%) – around 25 million people – would find living without cash problematic. But 17% believe it wouldn’t just be difficult, but near impossible.
You can read more about the report on the BBC’s website.
Vaultex have also published the results from a global survey. We asked central banks around the world for their views on cash. 70% believe that cash will still be the most important payment method by 2030.
The report concludes that while the challenges surrounding cash may be different from country to country, by sharing ideas and best practice we can make cash more efficient and effective even as its use declines.