Tue, 29 Apr 2025

Tue, 29 Apr 2025 Warning shops could be forced to accept cash in future

There is no data on how widely cash is accepted which puts the UK at risk of becoming cashless, a report warns.

* MPs have suggested that shops and services may need to be forced to accept cash in the future to protect vulnerable people who rely on it.
* The Treasury Committee report stopped short of recommending a change in the law, but said the government needs to improve its monitoring of the issue.
* Some countries, such as Australia or parts of the EU, are planning requirements for cash acceptance for essential services in certain circumstances.
* The committee warned that prices would rise if more shops and services go card-only, creating a "poverty premium" for those who rely on cash.
* The report highlighted concerns about people being excluded from leisure centres, theatres, or public transport due to lack of cash acceptance.
* There was particular concern for victims of domestic and economic abuse who need cash to avoid being traced through card transactions.
* The committee called for the government to "vastly improve" monitoring and reporting of cash acceptance levels.
* Some businesses, such as market stallholders, rely heavily on cash and may struggle if cash is no longer accepted.
* The report comes amid concerns about the future of notes and coins, with some experts warning that people may be excluded from essential services if they don't have access to cards or digital payments.
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