From shared bank hubs… to mutual banking… to the virtual high street…
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The Telegraph reports today how people are returning to cash to help them budget:
Households return to cash to beat cost-of-living crisis (paywall)
However, it looks as though it’ll become increasingly difficult to withdraw cash:
It appears, though, that it’s a pretty dangerous thing to withdraw cash from ATMs anyway, according to a report from the Express yesterday:
We do seem to be moving to a ‘cashless society’, then.
This is something which has been gaining – with this report from 2019:
Cash machines disappearing from our high streets – Vision Group for Sidmouth
There are implications for key sections of Sid Valley society, though:
A cashless society, small businesses and the elderly – Vision Group for Sidmouth
The government is clearly concerned, with the publication of plans earlier this summer “to ensure consumers and businesses have a legal right to withdraw and deposit cash within “a reasonable distance” of their home or premises”:
The future of cash: share your experiences – Vision Group for Sidmouth
And one way of ensuring this might be the setting up of ‘hubs’:
This is something which has been looked at for Sidmouth:
Finally, the high street might have to adapt – and adopt cashless in a modern and dynamic way, especially if it is to survive the online retail giants:
A virtual high street for Sidmouth? – Vision Group for Sidmouth