One in three blocked from paying with cash during pandemic

21 Jan 2021

Over a third of UK consumers have been blocked from paying for goods with cash during the coronavirus (COVID-19) pandemic, according to research from consumer group Which?.

Which? surveyed more than 2,000 people across the country in November 2020 and found 34% had had cash as a means of payment refused.

The research showed that people were most likely to have been refused the option of paying with cash when shopping for groceries, accounting for more than a quarter (28%) of incidents.

Leisure activities such as going to a pub or restaurant followed closely behind, with 24% of people being refused for paying with cash.

Commenting on the research, Jenny Ross, Money Editor at Which?, said: 'We have repeatedly warned about the consequences that coronavirus will have on what was an already fragile cash system, but nowhere near enough action has been taken by the government or the regulator to understand the scale of this issue.

'The government, which is still yet to introduce legislation to protect cash it promised almost a year ago, must urgently make the Financial Conduct Authority (FCA) responsible for tracking cash acceptance levels. Failure to do so will see the cash network crumble and leave millions of people abandoned.'


xero quickbooks.png sage.png kashflow.png
Copyright

© 2021 Mark J Rees LLP. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Contact Us

Please call:
0116 2549018

Address
Mark J Rees LLP, Granville Hall, Granville Road, Leicester, Leicestershire LE1 7RU

Mark J Rees LLP is a Limited Liability Partnership Registered in England & Wales Number OC362074. A list of members’ names is available at the business address. MJR, Mark J Rees and MJR Wealth Management are trading styles of Mark J Rees LLP which is registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales and authorised and regulated by the Financial Conduct Authority.

‘Partner’ refers to a director of a corporate member.