Cash

I will actively avoid any business that accepts cash only. I rarely have any cash with me and prefer to use ApplePay on my phone or watch. It’s faster, more secure and I can easily keep a track of spending via the banking app. I would barely notice if we stopped using cash entirely, which will obviously happen at some point in the future. The question is, when?

I've always found budgeting so much easier with cash, especially the weekly shop. But since covid (and the drop in local cash machines) I'm mostly card based. And I definitely spend more as a result.

The queues for the cash self service check outs in my local supermarkets are getting longer, and I've noticed more local companies (e.g hairdressers) have gone cash only which surprised me. In a cost of living crisis I guess it shouldn't be a surprise, having the tangible cash on your hand forces you more to think about spending it.

I also think the rising costs of taking card payments plays into smaller businesses going cash only.

A lot of local barbers and chip shops seem have a strong preference for cash. Probably the only places I regularly use cash.

But I do understand why they do prefer it.

I also take a reasonable quantity of Euros when holidaying in France. You don't see many people paying with cards in boulangeries when buying the daily bread.

There is also still a significant number of people using cheques in many supermarkets in France. I can't remember the last time I saw a cheque book in the UK. But most checkouts in Leclerc or SuperU have someone paying by cheque when I visit.

I would be very sad to see cash eliminated. Coins and notes are a big part of our culture and heritage.

No Government is going to force businesses to accept cash, if you do that then you have to force businesses who are cash only to accept cards to balance things out.

Also people using cash only must still banks/post offices and debit cards otherwise how do they get their cash?


I agree although I wonder what should be the minimum because not all businesses are treated equal so 0.5% to a luxury business is not the same as a small business. 


There is a lot of fear mongering from certain media outlets. Cash is not going to be phased out anytime soon. 

The casual ageism on this board never fails. Can't think of any other demographic that people so happily belittle and patronise on here.

As has been said many people know the benefits of cash when it comes to budgeting. People also like something tangible, this is especially true when computer systems fail (as they do). Whether it be businesses systems to take the money digitally, or when banks systems crash. Being 100% reliant on banks or even worse, big tech, to have complete control of access to your money makes you just as vulnerable as keeping all your cash in the house.

Then you also have system updates potential for failure. Just look at the post office scandal, and im sure many of us have worked places when new systems have been brought in that arent fit for purpose. Acting like tech is this perfect superior replacement for cash is a bit naive. People wanting a choice and to have some control and security over their money does not make them hankering over the good old days.

As for cash causing increased chances of businesses being robbed, considering cash has been the norm for decades I don't see how the risk has increased.

As someone normally sensitive to casual ageism, I can't say I have detected any in this thread. Plenty of older people embrace change and new technology when there are clear benefits.

As for the risks of electronic payments, the test should not be "is it risk-free?", but rather "is it safer than cash?", and, if it's not, are any additional benefits worth the increased risk?

In my own experience, I have several times in my life lost cash or had it stolen. I've had a few attempts to wrongly debit my card accounts, but all were quickly resolved. I have also had the ability to force a refund on many occasions when goods/services were substandard from uncooperative retailers, something that would have been impossible with a cash payment.

I have also made thousands of pounds worth of purchases in foreign currencies at almost the spot (interbank) exchange rate. Getting foreign cash would have cost me 3-5% of the purchase price.

That is just lazy somewhat ageist left-wing stereotyping - have you actually watched GB News and seen what arguments they are putting forward ? Their core audience is older than some other stations but the fact the charity Age UK are also campaigning for cash to be retained should indicate to you that maybe there are some valid reasons that older people want to retain cash. 

Actually there's also seems to be a hint of conspiracy theory about it too - the demonstrators I saw were also campaigning against plans for a government-backed digital pound. 

I think it will be interesting to see the exact demographics for increase/decrease of cash use.

I divide my time between Liverpool and Weston-super-Mare, and personally I see an increase in cash use in both places. The number of 'cash tills' equal the number of 'card only' in the supermarkets I go to, and the 'cash tills' are always busy, sometimes even having to wait till one becomes available.

Overall cash may be decreasing, but I'msure in certain regions it might be on the up. 

This article from December states that cash use is definitely increasing nationally, but it makes up 'only' 20% of total spending. news.sky.com/story/cash-use-grows-for-first-time-in-10-years-as-people-pay-closer-attention-to-household-budgets-13024643#:~:text=Coins%20and%20banknotes%20accounted%20for,to%20better%20manage%20their%20money.&text=Cash%20usage%20has%20grown%20for,cost%2Dof%2Dliving%20squeeze.
news.sky.com/story/cash-use-grows-for-first-time-in-10-years-as-people-pay-closer-attention-to-household-budgets-13024643#:~:text=Coins%20and%20banknotes%20accounted%20for,to%20better%20manage%20their%20money.&text=Cash%20usage%20has%20grown%20for,cost%2Dof%2Dliving%20squeeze.

Supermarkets were open and accepting cash during Covid and yet all evidence shows cash usage has increased at them during 2022 and 2023.

Both card and cash have risks attached. Anyone carrying wads of cash around with them is an easy target for pickpockets and scammers. Alan Bennett got robbed for £1000s after being targeted after going to the bank. 

Perhaps I'm being cynical but I think if a business is struggling then going cash only isn't really going to help their finances and then because cash only businesses have a reputation of being money laundering fronts then people won't use them anymore.

I think cash will be phased out but not in this decade or even the next decade.

Go check the statistics about modern day slavery and then come back to say sorry.