Millions of people would struggle if the UK became completely cashless, report finds

MattMattMattUK

Zanderman said:

Rob5342 said:

Zanderman said:

Rob5342 said:

Zanderman said:

Rob5342 said:

libra10 said:

For everyday purchases, cash is king!  If the money isn't in your purse/wallet you can't spend it.

Cash is a great budgeting tool, and what happens when there is a problem with your bank card, or possibly lost it?  

Not everyone has the internet, many older people who have never used computers could lose their independence, having to rely on relatives or friends.

Cards have their uses, but they're not infallible.

If the money is in your account it's always down to you whether you spend it or not. You can get £x out in cash or put £x in your pot or spending account, in either case you can still get more cash out or put more money in your spending account. Cash isn't very good for budgeting as you have no idea where it went, on the other hand I can look in the app and see exactly where everything went. If there is a problem with your bank card and you've lost it then you can cancel it and not be any worse off, if you lose you cash you probably won't get it back.

Computers and the internet have been around so long now that that argument doesn't really hold any water now. An 80 year would have been 52 in 1994, a time when most office work was done on a computer.

In response to points about everyone should be using technology now, the obvious riposte is why? Why should they if they're happy with their current set-up?

From a practical point of view you can only expect things to be catered for if there is sufficient overall demand. If somebody chooses to do something an unpopular way then they can't complain if they are unable to do it in certain situations, It's like choosing to use a 126 film camera, you can't complain and say you'll struggle because boots doesn't sell 126 film any more.

That's not a valid comparison at all. 

Firstly taking pictures is not a necessity of life. Being able to pay for things is.

Secondly 126 cameras became useless as the film cased to be made. Cash has not ceased to be made, and there is still so much demand that an official report says it shouldn't be withdrawn.

And, generally speaking, cash is not 'unpopular'.  That's the whole point - it is still in regular use by a very large number of people. Not by you perhaps but it is by lots of other people.  Which is the point of the report saying it's needed.  

You've missed the point here. A new technology is introduced (debit card/digital camera), people like it and start to move over to it, that starts a dominoe effect where it becomes cheaper/more accepted causing more people to move over to it. Eventually the old technology becomes so unpopular that it's not worth anyone supporting it any more.

It might not be the time to go cashless yet but if people keep adopting cashless methods then eventually cash won't be worth the effort for anyone. Things always move on, we used to barter goods but nobody now would complain that Sainsburys wouldn't swap their live chicken for a bottle of beer.

I'm not missing the point.  Cash is still absolutely essential for many.  Until it isn't absolutely essential it will remain. 

Your 126 camera comparison is not valid. People who had a 126 film camera (which wasn't essential, ever) merely had to change to another camera - using 110 or 35mm film when 126 film was discontinued. The unit they had to use was still a camera. That is the financial equivalent of when we went metric - the old coins were phased out gradually, but they were replaced with, er, coins.   Removing cash and going cashless is whole different ball-game.

(And, for Ergates, who is confusing the discontinuation of 126 films with the advent of digital cameras, the same argument applies, the unit being used, when digital cameras began, was, again, still a camera)

You are missing the point though, cash is not essential for many because there are perfectly viable alternatives, they have a preference for cash, it is not essential.

Removing cash is not a different ballgame, it is a payment method, other payment methods are available. For 95-99% of the population cards are already a perfectly viable alternative, for the other 1-5% the issues can be dealt with relatively easily. 

A preference does not make something essential.

Sensory

Cash would only be essential in the short term if, quite literally overnight, all withdrawal facilities were removed. Physical cash would then gradually decline and eventually become obsolete when the last deposit is made.

Even then, during the transitory period of forced acclimation, only a minority would be inconvenienced (to varying degrees but nothing insurmountable), and only those facing barriers to obtaining bank accounts/cards would experience the greatest difficulty, but most assuredly legislation would also change to assist the transition.

Cashless does not necessarily equate to paperless/branchless/online/mobile banking.

Of course, this ignores those engaging in illegal activities where cash is king.

MrFrugalFever

Cash is not essential in my opinion and I cannot think of a single scenario whereby I would need to use it anymore.

Sea_Shell

What about for children?

Especially when they're at that in-between age of not yet having (allowed) a phone, or being eligible for a pre-paid debit card, but still wanting a bit of pocket money in their control rather than relying on (or asking) Mum or Dad to pay for everything.   

Daliah

Sea_Shell said:

What about for children?

Especially when they're at that in-between age of not yet having (allowed) a phone, or being eligible for a pre-paid debit card, but still wanting a bit of pocket money in their control rather than relying on (or asking) Mum or Dad to pay for everything.   

There are already plenty of options for card accounts for kids from very early ages. Before long, they will all expect that the thing on their wrist which tells them the time, lets them message with parents and friends, make an old-fashioned phonecall, reminds them of whatever they want to be reminded of, counts their steps, measures their temperature, pulse and blood pressure etc etc etc also lets them pay for a chocolate bar or whatever else they can afford to buy (these devices already exist for adults). The very last thing the kids will want is coins and notes which are difficult to carry with them, and which may be loaded with germs and viruses.

littlegreenparrot

Bizzywizard said:

My mum who is 75 still likes using cash as she has bad arthritis in both hands, so she cannot always press the buttons on the key pad at the checkouts, when needed. So once a week my brother goes to her bank to withdraw her cash and statement for her to use. She does not have a mobile for internet banking and has no need for a laptop. I feel the older generation have been hung out to dry! So at 46 I only have a laptop and have no mobile (use hubbys if needed). Eventually maybe I will have to own one just for banking!

You can ask the bank to set up the card so that it will always churn out a receipt for signature rather than ask for the pin number, the way we all used to. 
She might find that easier. 

My mother is blind and has this. Only occasional problem is confused cashiers, who get a patient explanation and still sometimes try to insist it doesn't work like that....until it works perfectly. 

IvanOpinion

Dirty filthy unhygienic stuff, the sooner it goes the better.
I do not use cash at all these days, except on holiday. I find people are incredibly susceptible to accepting electronic payment methods when presented with the fact they either accept electronic or they do not get paid.

Whether it be lightbulbs, cars, phones, airplanes, TVs, umbrellas or any other advancement, there will always be luddites making weaker and weaker excuses for not adopting it, and it is they that end up in smaller and smaller minorities until they make themselves obsolete.

Ergates

Sea_Shell said:

What about for children?

Especially when they're at that in-between age of not yet having (allowed) a phone, or being eligible for a pre-paid debit card, but still wanting a bit of pocket money in their control rather than relying on (or asking) Mum or Dad to pay for everything.   

As far as reasons for why we (as a society) can't go cashless go, children's pocket money hardly seems like it would be a critical one.

[Deleted User]

littlegreenparrot said:

Bizzywizard said:

My mum who is 75 still likes using cash as she has bad arthritis in both hands, so she cannot always press the buttons on the key pad at the checkouts, when needed. So once a week my brother goes to her bank to withdraw her cash and statement for her to use. She does not have a mobile for internet banking and has no need for a laptop. I feel the older generation have been hung out to dry! So at 46 I only have a laptop and have no mobile (use hubbys if needed). Eventually maybe I will have to own one just for banking!

You can ask the bank to set up the card so that it will always churn out a receipt for signature rather than ask for the pin number, the way we all used to. 
She might find that easier. 

My mother is blind and has this. Only occasional problem is confused cashiers, who get a patient explanation and still sometimes try to insist it doesn't work like that....until it works perfectly. 

How would this work with those small SumUp type card readers where there is no receipt roll in sight?

diystarter7

I was against going cashless and always said it would never happen. However, Covid and then operating almost cashless won me over. Beats handling money with the billions of germs money carry.