Cash is still king for drivers when parking
CASH is still the No1 option to pay for parking among drivers but young motorists prefer to leave their coins at home, according to a study by the AA. The research comes as local authorities across the UK changed their policies to allow cashless payments only during the height of the pandemic to reduce cash being handled by multiple people to reduce the spread of the virus. Some councils also said moving to cashless options reduced costs as it saved on repairs and meant thieves could not steal from cash machines. While offering cashless payments is popular among younger drivers, older drivers and low-income households prefer to manage their budgets with cash and want the flexibility to pay for parking with coins and then spend any change in the local High Street. Cash is the preferred option for about half of all drivers, followed by chip and pin, then contactless payments via a card or smartphone. The AA is asking councils to retain pay-by-cash parking machines to ensure drivers of all ages and backgrounds can access local shops and facilities, as Jack Cousens, head of roads policy for the AA, explained. “For now, cash remains king when paying for parking, however, a speedy transition to an increasingly cashless society is paving a way that could threaten to lock older drivers and low-income households out of their town centre.
“Many households prefer to physically see their budgets and doing so gives them a heightened sense of how far their cash can go. Removing cash parking machines from town centres can have a knock-on effect to the local economy as would-be shoppers decide to take their business elsewhere.
“With parking income the equivalent of three quarters of council tax revenue for some authorities, Council leaders will not want to lose a valuable source of funding. “