We need a regulator to protect access to cash
More than 8 million UK adults would struggle to cope in a cashless society, according to a major report which claims that the country’s “cash infrastructure” is in danger of collapsing.
The Access to Cash Review says that as Britons increasingly turn to digital payments, and with bank branches and ATMs closing, companies and organisations providing essential services should be required to ensure that customers can continue to pay by cash.
Commenting Mr Stone said:
“Last month I supported calls by Which? for the Government to appoint a regulator to protect access to cash. The Access to Cash Review highlights just how necessary this is.
“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 calling on the Government to appoint a regulator to protect access to cash.”