Jamie supports calls for a regulator to protect access to cash
Jamie Stone is supporting calls by Which? for the Government to appoint a regulator to protect access to cash, as a combination of bank branch and cashpoint closures risks leaving people in Scotland struggling to pay for essential goods and services.
Despite the increased popularity of digital and card payments - which have proven vulnerable to IT failures - having access to cash is still a necessity for more than 25 million people across the country.
Scotland has seen 399 bank branches close since 2015, making it one of the worst affected areas in the UK and these closures risk having an impact on businesses and communities alike.
Meanwhile, 290 cashpoints have closed in a year, the majority of which were free-to-use machines (204).
Which?’s new campaign calls for Government to appoint a regulator with sole responsibility for the cash infrastructure to ensure consumers and businesses can continue accessing cash
Commenting Jamie said:
“The combined closures of bank branches and free-to-use cashpoints across Scotland continues at an alarming rate leaving people in my constituency without access to the cash they rely on. Cash is also a backup for everyone when online systems fail or when, as in many parts of the Far North, the broadband is not good enough to support card payments.
“With card and digital payments becoming more and more popular, I am concerned that some people may be left behind and that is why I am supporting Which?’s campaign for a regulator to protect access to cash.”