Charity calls for action over access to cash

Campaigners for the elderly have called on the Government to guarantee access to cash.

Age UK has warned that being cut off from cash and banking services is tantamount to being excluded from society, and is a risk for many more of us than is often assumed.

Age UK’s Financial Lives Survey found that around 2.4 million people aged 65 and over in the UK relied on cash to a great extent in their day-to-day life – 21% of all older people.

The charity says bank branch closures and a lack of access to free cash machines are a looming issue.

Caroline Abrahams, charity director at Age UK, said: “Access to cash is not only essential for older people but for us all, in a world increasingly compelling us to manage our money digitally.

"Protecting the cash system is essential for enabling millions of citizens to go about their lives.

"Money was still widely used during the pandemic, when spending opportunities were few.

“Older people who use cash and their local bank branch are finding it increasingly impossible to manage their money because more and more barriers are being put in their way and don’t want to, or can’t do it, online.”

She added: “It’s time for the Government to recognise how important banknotes and coins are to all our lives and treat the cash system as the essential piece of infrastructure it is.

"If the Government is serious about ‘building back better’ after the pandemic, then they must legislate to protect cash access within a reasonable travel distance of people’s homes.”