Cable Forum - View Single Post - Bank branch closures and the cashless society

Rillington · 12-09-2023, 18:50

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?

12-09-2023, 18:50	#1
Rillington cf.mega poster Join Date: Jan 2004 Services: Virgin Media, DAB Posts: 1,157	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?