You are here: Home - Saving-Banking - News -

Half of public find cashless venues inconvenient

0
16/12/2022
Cashless car parks, cafes, restaurants and transport cause inconvenience to 49% of the public.

Not being allowed to pay in cash for goods and services is causing growing concern among the public, according to a survey by ATM network LINK.

In the past eight weeks, 45% of adults have been to a venue or tried to pay for a service but have not been allowed to pay in cash, or they have been discouraged from doing so.

Almost half said being unable to pay in cash or being discouraged had caused them an inconvenience.

London was ranked as the top location where shoppers had experienced the most reluctance for shops and services to take notes.

Around £1.6bn is withdrawn from LINK ATMs each week, however, withdrawal volumes are on average down by 40% since the pandemic.

Contactless cards and digital payments are popular ways to pay prompting 47% of those surveyed to say that the ban on cash during the height of Covid had not caused them a problem.

Cash acceptance has been the most limited in car parks, cafes, restaurants and on public transport.

Graham Mott, director of strategy at LINK, said: “We know some people simply prefer using cash, but there are millions who can’t do digital payments, so being unable to be pay in notes and coins is still frustrating for some.”

One in eight card users said they found it more difficult to keep track of their finances due to using card payments in shops instead of cash.

Further, 16% of people said they were keeping cash at home just in case of emergencies, and 8% said they had used cash to pay a friend or family member in return for them doing shopping, or other services, that they couldn’t do.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Everything you wanted to know about ISAs…but were afraid to ask

The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week