Bank branch closures and the cashless society
 

I don't see a discussion on this topic so I thought I'd start one.

The Nigel Farage debanking brought home the issues regarding debanking in general as banks withdraw from the high street to increase their profits by trying to force us to bank online and become a cashless society.

Many towns have been debanked and some are even losing access to cash as ATMs are removed or are replaced by machines which charge you for withdraws.

My view is that this will cause many people to become debanked and therefore loose access to financial services.

Banks have no social obligation and, if they choose, can close customers accounts for any reason and I fear this will include closing customers' accounts if they do not bank online. Some may be unable to, some might not have access to the internet, some might just not be comfortable and some might not choose to. Is it fair that these people should be debanked?

What are people's views on the move to a cashless society and debanking in general?

Re: Bank branch closures and the cashless society
 

Realistically, who does not have some form of access to the internet now ?

Re: Bank branch closures and the cashless society
 

Cashless would be terrible as it would allow control of buying and selling to be implemented. Cash gives the option to trade without trace.

Re: Bank branch closures and the cashless society
 

my elderly next door neighbor does not have it at all.

my parents only recently got internet, and luckily don't use online banking (I get message from my mum asking if she should click on the random pop ups that have told her to dl and install whatever)

there's still some things you have to go into a branch for, and it's a real pain, when you go to your local branch near your office, and they say "sorry, you'll have to go into the main branch to do that" so at the weekend you spend ages in a queue to do something which takes a few mins

Re: Bank branch closures and the cashless society
 

By choice, not because its not available, I presume you also mean they dont have phones with access.

Re: Bank branch closures and the cashless society
 

Can't recall last time l went into a bank for that matter the only time l get cash is to pay the window cleaner

Re: Bank branch closures and the cashless society
 

About the only thing I use cash for these days is the newspaper.

Last time I went into the bank was to pay in cash that had been gifted to me for doing a job. Then I had to go into town as the only branch left locally was there.

I keep a sum in my wallet just in case the card cannot be used in the supermarket. It happens very occasionally when something goes down and I don't want the embarrassment of not being able to pay. :D

Re: Bank branch closures and the cashless society
 

The only thing I have used cash for in the the last 12 months is at fairgrounds.

I also came across 34 old pound coins the other day, and an old £20 note (both in an old savings tin).
I exchanged them at the post office, so I have another £54 for Ilkeston fair. :)

Re: Bank branch closures and the cashless society
 

More people than you might think, especially along older people.

Re: Bank branch closures and the cashless society
 

yes, he's been offered smart phones from friends/family, he's not interested/afraid of modern technology.

he's at an age where he likes his vcr to record his tv shows, he's happy/familiar with that, I've showed him using the V+ box is easier, but he wants to stick with what he knows.

my mum only got a smart phone a little while ago, as she needed a new mobile, and was interested in seeing photos of family and friends overseas easily. my dad looks over her shoulder now and again to see what she's looking at but teletext was good enough for him to find out football scores etc :) he's like my neighbour not interested.

so I'd imagine there are elderly ppl who have embraced it, but a lot who just aren't interested in it, so need banks, cash, in the same way they need train ticket offices.

Re: Bank branch closures and the cashless society
 

Re: Bank branch closures and the cashless society
 

a friend dose not or want BB, and does not have online banking

Re: Bank branch closures and the cashless society
 

My bank just closed the original bank I first joined way back in the 70s. However I haven’t visited that branch for years. I’ve embraced online banking for a long time now. Who wants to wait in a queue?Not I. I can check my account any time I want to.

Re: Bank branch closures and the cashless society
 

Cash payments rise for first time in 10 years

https://www.bbc.co.uk/news/business-66796263

So people are still budgeting using cash and it does make sense. It also does make you wonder why people are so much debt these days when you don't see exactly what you're spending. It's all too easy to just click here and there, tap your card, pay later, pay in instalment etc etc.

Re: Bank branch closures and the cashless society
 

True, the problem them comes is do you trust the government (future) not to declare you a criminal and freeze your assets. This could be deliberate because you are a member of a group they now describe as "undesirable" or by mistake or some malicious act or some criminal act. At least with cash available you may be able to live for a while until any error can be corrected.

Re: Bank branch closures and the cashless society
 

Many elderly people don’t have the internet or are even capable of using it.

As for telephones, many OAPs only have landlines, and those that do have mobiles still have the old style Nokias and the like.

You’ll see things differently when you get old. Stuff that you master with ease now gradually becomes impossible as your mental capacity declines.

Personally, I’ve had a 20p coin in my pocket for months now as I have no need to deal in cash. But we cannot operate on an ‘I’m all right, Jack’ basis, we’ve always got to think about those who cannot cope with new technology and come up with solutions that make sense to them.

We must never cut off access to cash until we have worked that one out.

Re: Bank branch closures and the cashless society
 

Our local Barclays Bank closed late last year but they produced a good leaflet explaining their decision and what alternatives were available. The leaflet pointed out that in 2021, they had 22 customers that only used that branch for their banking service. 93% of their branch customers used some other method of banking in addition to going into the branch. That might be internet or telephone banking or using another branch or the Post Office.

On that point, banks and the Post Office could be a little more proactive on what services the Post Office can provide. For example, Barclays customers can deposit and withdraw money and perform balance enquiries at the Post Office 1 minutes walk from the now closed bank.

It is an unpleasant cold hard fact that the population who has never been exposed to the internet and smartphone world is only getting smaller and some hard commercial decisions will,eventually need to be made but the banks could work harder in managing the transition

Re: Bank branch closures and the cashless society
 

My friend is 80 and dosent have bb

Re: Bank branch closures and the cashless society
 

The argument here is that for people on the tightest budgets, cash is the easiest way not to get into debt as you can physically see what money you have whereas, as you rightly say, tapping, of whatever it is called, can make it far too easy to overspend and get into debt.

---------- Post added at 18:13 ---------- Previous post was at 18:10 ----------

That's exactly the point, and my fear is that those people will become financially excluded and also could end up being debanked as I think it is only a matter of time when a major bank decides to end the use of cash and says that unless you do online you will be debanked. This might happen sooner than we all think.