Dirty note fears lead many to try money laundering

SHOPPERS are so concerned about the risk of contracting coronavirus from cash that a fifth have resorted to disinfecting banknotes, a survey has found.

Polling by Nationwide Building Society suggested that 20 per cent had washed their cash, with the majority of those using wipes, but a third soaking it in soapy water.

In answer to a question on handling banknotes, the Bank of England said in April they could carry bacteria and advised shoppers to wash their hands after touching them. It said the risk was “no greater than touching any other common surface, such as handrails, doorknobs or credit cards”.

The survey found that people had gone an average of 44 days without using cash, with shoppers turning to contactless payments during lockdown.

The number of contactless payments made by Nationwide members increased from just over seven million in the first week of lockdown to 10.3million in the week beginning May 18. The contactless limit was earlier increased from £30 per transaction to £45.

There have been fears that the pandemic has accelerated the decline of cash with campaigners warning that free access to paper money could be lost for good without government intervention.

Mark Nalder, the Nationwide head of payments, said: “Although we don’t expect cash to return to pre-covid-19 levels, it is highly likely cash usage will increase post-lockdown as the high street begins to reopen.”

He said he expected the virus to have a “lasting impact” on how shoppers choose to pay for things.

An estimated two million people still rely heavily on cash, and charities have warned that vulnerable people who are shielding from the virus have been particularly reliant.

Gareth Shaw, of consumer group Which?, said: “Banks and businesses must not neglect those who have no choice but to rely on cash to pay for essential products and services, particularly as many are vulnerable consumers. The sharp decline in cash use during the pandemic risks bringing forward the cliff-edge moment when our fragile cash system could collapse completely.”

Mr Nalder said Nationwide would continue to offer customers a choice of how to pay which met their needs.

The Government has committed to legislation to protect access to cash for the most vulnerable.