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Going cashless: Are Seniors still taken into account in the UK?





Going cashless: Are Seniors still taken into account in the UK?
It's shocking news that more than 500 UK bank branches have closed since the pandemic began last year, further reducing access to cash for older generations.

As with so much on the high street, Covid-19 has only accelerated the move towards digital trade, threatening to leave behind many offline customers. Lloyds, NatWest, Barclays, HSBC, TSB and Co-op Bank are among the lenders who have shut 529 branches since the first lockdown last March, according to a report by Which? This is despite the Financial Conduct Authority urging them to delay such action for fear of impacting “vulnerable customers”.

Since 2015, just over 4,000 local branches have been shut down across the nation, further hollowing out our high streets. It is not good enough either to say that cash can be withdrawn from post offices, as many of these have been relocated inside busy shops, providing neither discretion nor security for customers.

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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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