ATM under scrutiny as coronavirus hits cash use
Three out of four people think Covid-19 will continue to affect their use of cash going into 2021, a survey has found.
Some 75% of people surveyed by You Gov for ATM network Link said they believed corona virus would affect their use of cash across the next six months.
Nearly half (48%) said they would use cards more, 37% will rely more on contactless and mobile payments and 36% believe they will shop more online.
Overall ,72% of people surveyed in late Nov embers aid they have been using cash less since the outbreak of Covid-19.
John Howells, CEO of Link, said :" Year-on-year we've seen a decline in the number of cash withdrawals from AT Ms of almost 40%.
"In normal times, we may have expected this over five years, but it's happened in nine months.
"However, it' s important to remember that even during a pandemic, more than £1.6bn is being withdrawn every week from ATMs.
"And we are pleased the Government will be putting forward legislation in early 2021 to protect people’ s access to cash ."
Gareth Shaw, head of money at consumer grouo Which? said the pandemic has put added strain on the UK's "frail cash network".
He said :" Some of the most vulnerable people in society, whore lyon cash to pay for essentials, are at risk of being excluded as the UK accelerates towards a cashless society.
"The Government must urgently press ahead with its promised legislation to ensure consumers have access to cash for as long as they need it .”