Access to cash

Visa will pay shops to offer cashback in rural locations in the United Kingdom.

Bank of Ireland and Allied Irish Bank are planning to sell over 1,000 cash machines, sparking concerns from consumers that the move will lead to hike in fees for cash withdrawals.

India’s visually impaired sees a clearer future in handling their money, thanks to the MANI mobile app which helps identify the denomination of currency notes.

The European Central Bank has delivered a legal opinion supporting the draft law proposed by the Swedish government, which aims at guaranteeing that the largest banks provide a minimum level of cash services throughout the country.

Following the launch of the Request an ATM scheme in October, LINK has received over 2,700 enquiries from across every part of the country. Link has announced a further £4 million in new investment from banks to fund new free-to-use ATMs.

Charity GiveDirectly gave US$1,000 each to poor households in Kenya, resulting to US$2.60 in additional spending or income for every US$1 cash delivered.

The Currency Bill 2019 at present before the Senate seeks to make it an offence to use “too much cash” to pay your bills. But refusing to accept cash can have legal consequences.

An increasing number of countries are taking a close look at the evolution of their cash infrastructure to ensure the future continuity of cash services, particularly as commercial banks optimise their branch and ATM networks. Other countries are taking measures to restrict cash usage.

Early October, LINK the UK's main ATM network inroduced a £1 million fund to support the installation of free-to-use cash machines in remote communities. In less than a month, over 100 applications were received.

SoCash, a Singaporean startup that turns shops into virtual bank branches, via a mobile app, has raised $6 million in funding, led by cash automation company Glory, with the participation of venture capital funds.