A quarter of people in the UK use cash more than once a week, and 5mn (around 10 per cent) use it daily, according to the Financial Times.
A report commissioned by the government in 2019 found that the government, regulators and banks need to act now to protect cash access or risk leaving millions behind.
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In particular, the report recommended the introduction of a more efficient, effective and resilient cash infrastructure, and for cash access to be guaranteed for all, including those in remote and rural areas.
The Treasury is currently legislating to protect access to cash.
sally.hickey@ft.com
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