According to the report, 17% of the population would struggle to cope in a cashless society - that's 8 million people!
Some key figures from Access to Cash report
- 97% carry cash on them
- 85% keep cash in the home
- 16.5% keep more than £100 in their home
- Average cash people carry on them – £41
- Average cash people have at home – £84
- 65% of people with mental health issues might find it harder to manage their money.
- 67% of people on low incomes might struggle to balance their household budget.
- 63% of people would lose the value of money: they say holding cash in your hands makes you think more about how you spend it.
In July 2018, the Access to Cash Review was launched, chaired by Natalie Ceeney CBE, to look at the future of cash access across the UK. The review was commissioned as a response to the rapid decline in cash use, with growing societal concerns about whether we’re leaving people behind – unable to either use or access cash in an increasingly digital society. The review is being funded by LINK, the UK’s largest cash network, but is independent from it.