RESIDENTS have spoken about the importance of cash and how it is being replaced with cards and remote payments, on the back of a Post Office campaign calling for cash access to be made a legal right.
Under the Save Our Cash initiative, the Post Office is urging the government to speed up the delivery of legislation and regulations to underpin the long-term future of the cash system.
Post Office chief executive Nick Read says, “Banks should be required, by law, to provide their customers free access to cash and cash services irrespective of where they happen to live or work. Anything short of legislation will fail the millions who continue to depend on it day-to-day.”
A Westbury resident of the older generation, who did not wish to be named, told White Horse News, “The benefits of cash are that it is a lot more flexible and a lot better for budgets.
“If I can’t get out or am unwell and ask my neighbour to get bread or milk how am I going to pay her for it if I don’t have cash?
“Some young and middle age people wouldn’t even think about this but cash works for everybody.
“Cards cannot be controlled, for example, if somebody with learning difficulties is issued with a card they can be taken advantage of.”
The resident said the social aspect of being able to go to the post office to withdraw cash was important.
“They know me there and we can say hello and have a chat. For some people living on their own this is their only social interaction all day.
“We’re living in an increasingly isolated society. Cash embraces everything.
“If cash is not available there has to be access to the internet for everyone – during Covid people without access to the internet have not been able to go, for example, to the library where they could get access.
Bob Summerfield, manager of Westbury’s Imperial Charity, says, “The question of cash or cards doesn’t appear very straight forward. Both of our shops on re-opening experienced almost 90% payment by card.
“All customers are given the option of paying by cash or card and for the past couple of weeks both shops have experienced an almost 50 – 50 split between cash and cards!”
Bob said he had not noticed that the elderly had any problems using cards, saying, “Having lost all our banks in Westbury I get the impression that the majority of people have adapted to the fact and have worked round it. Visits to cash machines have become routine and the Post Office also provide banking facilities.
“Within my own household, I will always prefer to pay by card irrespective of the amount whereas my wife always prefers cash. From a business point of view, depending on time and circumstance we tend to use the Post Office or Lloyds in Warminster.
“Overall I feel that whilst cash is still necessary at this moment in time, it is slowly becoming of less relevance.”
YouGov research for Post Office found:
• Almost three-in-four (72%) Brits believe cash is an important consumer right
• 70% of British small and medium size (SME) businesses see cash use as important to the future of the UK high street
• The majority of consumer (57%) are concerned about bank branch closures
• 44% said that cash is important to their daily life
People are also able to find out more online at www.SaveOurCash.co.uk, where they can hear the real stories of people reliant on cash and learn more about how cash plays such a pivotal role in their lives. Post Office is calling on as many people as possible to write to their MP to support policies and legislation that protect cash and place an obligation on the banks to guarantee access to cash across the UK.
