Cash Welcome in the UK
Jul 8, 2022
Support for cash in the UK has gained momentum with the introduction of purchase-free cashback services and forthcoming legislation announced in the Queen’s Speech. However, more work is needed to ensure complete access, availability and acceptance of cash across the nation. The CashWelcome campaign counters anti-cash misinformation and helps ensure every business and individual can continue to enjoy the benefits of payment choice.
CashWelcome was founded by a group of small business owners last year in response to the continued spread of misinformation about cash usage. The campaign focuses on helping cash remain a relevant, visible and accessible payment choice for all, including the majority of people who value cash but whose views are largely unrepresented in the media.
A growing number of people believe cash is obsolete, which simply doesn’t reflect the reality of life across our diverse communities. It is our view that this misperception is due to ongoing campaigns by institutions that would profit from a cashless society. At CashWelcome, we are dedicated to putting the record straight, that cash is the lifeblood of community.
This Is Money reports cash is the preferred payment method for 21 percent of Brits, seeing only a slight decline in popularity from 23 percent pre-pandemic. It also cites data from Marqeta indicating that while the majority of 18–24-year-olds use a phone as their primary payment method, 23 percent still do not feel confident leaving their cash at home. Despite these clear indications that cash remains essential to many, and a valued option for most, widespread ATM and bank closures have led to many communities being cut off from facilities allowing deposits and withdrawals.
While forthcoming legislation will strengthen cash infrastructure, CashWelcome is encouraging individuals to take matters into their own hands and do what they can to voice support for cash and use it to make a difference, such as when buying from smaller retailers and paying independent business owners for goods and services.
People want cash to exist, but get into the habit of always pulling out their card or phone. We encourage people to be considerate, particularly when making small purchases from local retailers. In the current economic climate, supporting local business is particularly important, and one of the best ways to do this is to shop small, shop local and use cash.
CashWelcome offers free sticker packs that provide ‘an easy way for businesses to display their support for cash, remind us to be considerate in how we choose to pay, and retain our independence as individuals and communities.’
For more information on the CashWelcome initiative, and to order a sticker pack, visit their website at www.cashwelcome.org.uk.