Can England stay connected in a cashless world?

Local TV

Branch closures and digital banking are changing how we pay, but new data shows why access to cash still matters for people and businesses across England.

Transcript

00:00In England, the shift away from notes and coins has left many communities facing shrinking

00:06physical banking options, even though approximately 98% of people still live within a few miles

00:12of a cash access point.

00:14Between 2012 and 2022, the number of bank and building society branches in the country

00:20fell by around 40%.

00:22Many of the closures are in rural or suburban areas where alternative means of access may

00:28be limited and public transport thin.

00:30Regulators report that although urban residents have around 99% coverage of free cash withdrawal

00:36access within a short distance, for those in more remote areas, gaps are emerging.

00:42The result is that physical cash remains vital for those who struggle with digital banking

00:47or run small businesses that rely on cash takings.

00:51A cashless future might be on the horizon, but for many, the ability to pay, save and manage

00:57money in person is far from gone.

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