The consumer group Which? has claimed that bank closures and the disappearance of ATM machines means people are at risk of “being cut adrift and at risk of “financial exclusion.”
Which? has written a letter to the Treasury to ask for urgent action on the issue.
According to the BBC:
Its analysis suggests that branches have been shutting at a faster rate in rural areas than in urban ones.
Which? has joined up with other consumer and business groups to call on the government to legislate soon on protecting access to cash.
The Treasury said it recognises cash remains “vital” to millions of people.
The consumer group wrote a letter to the Treasury on Monday calling for urgent action.
“With rising living costs placing additional pressure on people’s personal finances, the consequences of being unable to withdraw cash for those consumers who already rely on it could be significant,” it said.
“Unless legislation is introduced urgently, the ability to access, spend and deposit cash could be permanently lost for many consumers, leaving some of society’s most disadvantaged at risk of financial exclusion with no way to pay for the goods and services they need in their daily lives.”
It’s one of the most pressing issues facing humanity.
I must repeat it. When cash goes, freedom is gone forever.
