Brits at risk of losing cash as ATMs vanish and 50% of bank branches set to shut
dailystar.co.ukmoney out are at risk of losing cash. It comes as consumer watchdog Which? warned of a crisis after its research revealed a quarter of cash machines have vanished.In the last seven years it found 4,685 bank branches had closed with a further 226 set to disappear by the end of the year.Which?
found 17 Parliamentary constituencies with "particularly poor" access to cash such as Sheffield Hallam and South Yorkshire.Other areas which have been stripped of bank branches include Bradford South, Erith and Thamesmead and Liverpool West Derby.According to the study, the elderly and those in rural areas who most relied on cash were also the most likely to be affected by it.Countryside areas had just 0.1 bank branches per 10sq km and 1.1 ATMs, compared with 2.6 branches per 10sq km in urban areas.The watchdog is now calling on the Government to speed up its two year old promise to protect cash with legislation.Jenny Ross, Which?
Money editor, said: "While many consumers have embraced digital banking, there are still millions, including the elderly, vulnerable and isolated, who aren't yet ready or willing to make that switch – and they must be protected."Our research highlights the devastating impact widespread bank branch and ATM closures have had on communities.
With just two weeks to go until the Queen's Speech, it really is now or never to halt the cash crisis."Though banking industry proposals for action are welcome, what's needed most is the legislation promised by the Government to protect cash.
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