Bank branch closures and the cashless society

[Rillington]

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?

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

[tweetiepooh]

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

[admars]

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

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

Originally Posted by admars

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

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

[Itshim]

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

[heero_yuy]

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.

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.

[Rillington]

Originally Posted by Paul

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

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

[admars]

Originally Posted by Paul

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

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.

[Anonymouse]

I hate to sound cynical, but there's one section of society who will support holding onto cash: the criminal fraternity, because it's pretty much untraceable (unless you lightly irradiate the bills or something). I seldom use it nowadays...and I'm nearly 58. I bank online through laptop, tablet or phone.

[Ken W]

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

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.

[peanut]

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.

[tweetiepooh]

Originally Posted by Anonymouse

I hate to sound cynical, but there's one section of society who will support holding onto cash: the criminal fraternity, because it's pretty much untraceable (unless you lightly irradiate the bills or something). I seldom use it nowadays...and I'm nearly 58. I bank online through laptop, tablet or phone.

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.