Cashless is harming the most vulnerable

Increasingly, businesses and individuals regard coins and notes as an unnecessary inconvenience. Moves towards a cashless society are accelerating. However, according to the Access to Cash Review, around eight million adults in the UK would struggle to cope without using cash.

Can we all go cashless?

Currently, it is possible to purchase almost everything you need using cash and to receive payment in cash.

The government notes in the Financial Inclusion Report 2019-2020 that there are still almost one million Britons without a bank account. The state of being ‘unbanked’ is viewed as problematic, yet –

The report states that 23% of UK payments in 2019 were made using cash.

The unbanked are not just those who prefer to keep their savings under the mattress. Some people in the UK are prevented from being cashless as they do not have proof of address to open an account, or their credit history is too poor.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

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