And I think that systems going down preventing you from using cards and online payments will become more frequent. And it’s a good way for the establishment to prevent you from withdrawing money from your account, and then blame it on the system. My bank (Virgin Money) already want a detailed description about what my withdrawals are being used for… And recently, I was refused to withdraw a large amount until I had jumped through a few security hoops. I know that they are trying to stop fraud, but sometimes they go too far.
Here is the last Report from the Access to Cash Review.
Although @wendeey is right to say that cash usage has gone up a bit this year, now that more retail outlets are accepting cash since the end of Covid restrictions, the last Review shows that @strathmore is also correct in his long term assessment of cash usage.
The last Access to Cash Review was 6 months ago and it reported that there has been such a decline in cash usage over the last ten years, they are concerned that this shift away from cash usage will result in increased difficulties for a significant minority of the population who rely on cash (an estimated 17%) many of whom are the most vulnerable or financially disadvantaged.
There has been a decline in cash transactions over the last ten years, from six in ten transactions paid in cash a decade ago, down to only 3 in 10 in recent times and it is forecast a fall to as low as one in ten transactions within the next 15 years.
“This shift away from cash towards digital payments is placing significant strain on the UK’s cash infrastructure which currently costs around £5 billion a year to run.”
“As bank branches and ATMs continue to close, the economics of handling and accepting cash will lead to an increasing number of retailers to go cashless. Given these pressures, the review warns against leaving access to cash to market forces, and urges the government and financial services regulators to take action to ensure cash remains viable for as long as people need it.”
https://www.accesstocash.org.uk/media-releases/access-to-cash-review-final-report/
One of the worries I have about the present PM and Government is hearing Truss reiterate her determination for a low regulation state.
What does that actually mean in reality?
If you leave capitalist “market forces” to drive change, then you are always in danger of leaving the vulnerable and disadvantaged behind, so sometimes Governments have to intervene and regulate to protect everyone in society from the effects of “market forces”
The linked article says the Access to Cash panel will meet again in September to discuss the impact of the Review and to assess whether further action is necessary, so we may hear more about it soon.
That’s exactly what I’m doing,wendeey, I limit myself to a certain amount of spending a week, cash taken out, with a card ,it’s so tempting to spend, …my willpower is weak, so hence limiting myself to cash…I think it’s a great idea.
Of course in an emergency, then I would have to use my card or just draw the money out that is needed.
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Hi
I really don’t think we will know what is happening until the end of October.
After the funeral there are only a few day days until Parliament closes down for the Party Conference Season, unless Ms Truss decides to keep it open, then a few weeks to get the new legislation through.
The full impact is out of our control, it depends on wether the world goes into recession and what happens with Russia.
Not sure either is true. The tax authorities have no rights to review anyone’s spending unless it purchasing to avoid tax (such as buying products off shore to avoid VAT). There is an electronic trail from card purchases but no-one is tracking this (ok, CIA might be).
And cash is not really a lower cost payment method for businesses. It costs a shop owner money to obtain a float of change each week and costs a shop owner to bank cash - the banks charge for both these things. Electronic payments can take out as little as 1% (sometimes more its true) for each payment. So possibly not much different from bank charges for using cash. I’d be surprised if many shop owners offer a discount for cash payments.
Then add in the risk of cash. Ordinary shop keepers walking to the bank at the end of the week with thousands in cash. Tills sat at the end of the afternoon with hundreds in cash. Errors by cashiers in giving out the wrong change. Bank machines dishing out only £20 notes so people go and buy small things to get change - which costs the shop owner, not the bank or the customer. Its not surprising many bars have already decided to go cash only.
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How did a divided Britain thread turned into a cash spending thread? 
Lol Donkeyman
Latest figures show inflation is running at 10.1% in the EU.
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Boot I’ve already posted the bit I was talking about. The bit you’re talking about might be interesting, but that’s about it for me. I can’t stand all this guesswork that forecasters do and would have thought that covid would have magnified that for people who do believe in forecasts so you can understand why those who don’t believe in forecasts can understand why. But obviously not.
None of us can stand wildly inaccurate forecasting.
wots this thread about agin?
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Sorry I got it wrong:
United Kingdom Inflation Rate - August 2022 Data - 1989-2021 Historical.
Annual inflation rate in the UK unexpectedly edged lower to 9.9% in August of 2022 from 10.1% in July, which was the highest reading since 1982, and below market forecasts of 10.2%.
And you still haven’t told me what the retail sales figures were that were published on Friday as compared to the forecasts.
I think its about whether the new king will be able to predict inflation and retail sales figures…
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oh yes that’sm it is everyone losing the plot and can the royals hold it all together - all together now - oh de okey pokey - oh de okey pokey dats wats it all abowt!!
britain started off its life divided all those hundreds ago changed colors a few times and came out in the wash baise - Charles justs provides the color and pomp and ceremony the rest of uze have to grasp the future and move on in your multicolored robes - do it the way that Oz is and NewZealand ??
You really have got to stop posting messages from the local pub at chucking out time.
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Hic hic wot? - stumble stumble - well watched the entire funeral all day and into the night/morn - and enjoyed it all with my emotions ebbing and flowing - yes well done only perhaps a united Britain/England or united Kingdom can do it so well - not a hitch or mistake or fight - better than watching a footy match heh?
so if anyone could bring together a ‘divided britain’ it was the royal and long may they survive and continue to also provide much color pomp and entertainment for us all! Over the last few days you were never divided - well done everyone from the royals to the royales??
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Why do some people talk sentimental tosh when they are drunk,I wonder?
Hi
It is very easy to criticise, it is a British Trait, we knock ourselves all the time.
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I’ve noticed that - knock knock who’s there - we’re british don’t swear!! - when you consider historically where we have come from divided tribes feuding and fighting now we just do it in parliament - Our history - brits that is - has been a barbarous one with much feuding fighting and wenching - burb I’ll drink to that for sure !! but I hear rumours that the new King will be bringing in changes to sharpen up the royal team and maybe reduce it in size! - or is this for another thread? - oh my rupert bear I often get lost here amongst all the debris and footie matches and raw emoticons!!