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The FT digs into recent report that says the UK’s cash system is on “the verge of collapse” and bank branch closures are “the tip of the iceberg”. The report states that 17% of the population would struggle to cope in a cashless society as an increasing number of banks and ATMs close and retailers go cashless.
The review warned that losing cash entirely would mean a loss of independence and rising levels of debt for vulnerable people who rely on cash for effective budgeting. It suggested that as well as protecting cashpoints, more retailers could be encouraged to offer cashback.
https://www.ft.com/content/95d180ee-40d0-11e9-9bee-efab61506f44
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