Access to cash

In a recent speech, Reserve Bank of Australia (RBA) Governor Michele Bullock highlighted the significant shift in consumer payment preferences, emphasizing the challenges to the cash infrastructure. The RBA is committed to ensure cash remains a viable means of payment for as long as Australians want or need to use cash.

Post-pandemic, UK cash withdrawals have stabilized, but Nationwide Building Society saw a 10% increase in ATM usage in 2024. This rise is due to bank branch closures and the cost of living crisis, pushing more people to budget with cash. Nationwide's extensive branch network supports this trend. The British Retail Consortium reports a two-year increase in cash transactions, highlighting cash's importance in budgeting despite the prevalence of card payments.

2024 marked a pivotal chapter in the evolving narrative of cash. From New Zealand’s innovative community cash trials to Germany’s National Cash Forum, efforts were made to enhance access and acceptance of cash. Research delved into its psychological and societal importance, while the Paris Olympics exposed the challenges of cashless society. This retrospective captures key moments that shaped the discourse on relevance of cash, reflecting its enduring role in fostering financial inclusion, economic stability, privacy and consumer choice.

CashEssentials was honored to hold a seminar on the Future of Cash at the High-Security Printing Conference in Bangkok last week. We asked participants how they imagine the future of cash.

Two policy shifts - mandated cash acceptance and regional bank branch levies - if adopted, could steer the cash ecosystem towards more sustainability.

The LINK scheme processes an average of 4 million cash withdrawals and balance enquiries every day and ATMs account for around 90% of cash acquisition in the UK. Here’s five things you ought to know about LINK from their just published annual report.

As the number of ATMs has significantly decreased in recent years, SIX and Diebold Nixdorf are entering into a cooperation to secure the long-term cash supply through ATM pooling. However, the Swiss Post also aims to be the sole ATM operator.

As a worldwide partner to the Paris 2024 Olympic and Paralympic Games, Visa has a monopoly on all debit, credit and mobile payments. Spectators are venting their frustration. Paradoxically, the campaign demonstrates the importance of cash in terms of inclusion, protection of privacy and resilience.

The Cash Payments Act aims to keep cash accessible, available, and affordable in the Netherlands by mandating banks to provide essential cash services and securing continuity in cash transportation services.

Proposals from the financial services watchdog to protect and widen cash access are "a good start but could go further" argues the Federation of Small Businesses. Cash infrastructure should be considered a public good.

The Deutsche Bundesbank has established the National Cash Forum, gathering representatives of the banking industry, retail trade, consumer protection, the CIT industry, and vending machine operators to preserve cash as an efficient and widely used means of payment in a changing payment landscape.

The Riksbank calls for urgent action to strengthen cash's position and access, to guarantee financial and social inclusion, and to ensure civil preparedness. Retailers should be obliged to accept cash as payment for essential goods. Banks should be obliged to accept consumer cash deposits.