Are we turning into a cashless society? The YOUGOV survey commissioned by Bank Machine, the Independent ATM Operator, revealed 81% of people are well aware that financial institutions such as the Banks are trying to get their customers to stop using cash and instead are attempting to make them use bits of plastic. However, 75% of consumers prefer to be able to use cash for smaller transactions and are not happy with the concept of a cashless society.

It is unsurprising that certain institutions campaigning for the end of cash have a vested interest in the attempt to bring around its demise. Cash isn’t good for Bank profits: cards certainly are, encouraging consumer over-spending at high interest rates. With the Bank’s announcing record profits this year, is it unsurprising that there is a growing debt problem in this country. The recent trials into the contact-less card aim to encourage a cashless society that is clearly not what the British public either need or want.

The independent survey revealed by Bank Machine, the UK’s Premier Independent Operator, goes on to reveal that actually people carry on average £26 in cash on their person in order to pay for smaller purchases such as buying a sandwich, newspaper or a cup of coffee. Men carry nearly £10 more than women and nearly two thirds of all transactions under £5 are still paid for by cash.

In a recent discussion on BBC Radio 4, Jeff Randall, Editor of The Daily Telegraph and Susan Quinn, The Director of Communications at APACS discussed the notion of a cash-less society yet both backed the general public’s opinion.

Commenting on the prevalence of cards, Jeff Randall noticed that many retailers were in fact beginning to refuse the use of cash for some purchases including larger items worth over £50.

Says Ron Delnevo, Managing Director of Bank Machine, “At a time when consumer debt in this country is at an all time high it is completely irresponsible of card issuers to suggest that cash transactions are somehow old fashioned. It is an increasing worry that big institutions and retailers are continually attempting to manipulate the ways in which we spend our money and subsequently what it is spent on.”

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For further information please contact Sophie Cork at The SPA Way on 020 7403 6900 or email sophie.cork@thespaway.com

Notes to Editors

This survey of 2,489 Adults was carried out by YOUGOV .

About Bank Machine: Based in Hatfield, Hertfordshire, Bank Machine is the leading independent ATM operator in the UK with well over 1400 ATMs in a variety of locations including forecourts, convenience stores, shopping centres and cinemas. The company has been in business since 1998 and employs over 50 staff. For more information about Bank Machine visit www.bankmachine.com

Bank Machine is a division of American Owned Cardtronics – the world’s largest ATM Operator which provides ATM’s across the US and Mexico. Founded in 1989, the company now has more than 26,000 ATM locations, coverering all 50 states of the USA.