In the Access To Cash Review last year, a panel of consumer experts stated the UK could become a cashless society by 2035. A year on from the publication of the report, the panel now expects the UK to become cashless by 2030.

With that in mind, we’re asking Express readers, ‘do you think the UK should become a cashless society by 2030?’

Natalie Ceeney, independent chairwoman of the Access To Cash Review, said: “The UK is fast becoming a cashless society – without knowing what this really means for consumers or for the UK economy.

“Many people may want a completely digital future, but we need to make sure that this shift doesn’t leave millions behind or put our economy at risk.

“Regulators currently don’t have the tools that they need to ensure that everyone who needs cash can get it.

“Now is the time for the Government to protect cash and allowing us to look ahead to how we can prepare for a digital future which includes everyone.”

Although the review stated progress had been made to protect cash withdrawals, the panel also stated work needed to be done.

Approximately 13 percent of the country’s free-to-use cashpoints have closed over the past year.

There are now 25 percent of ATMs charging people to withdraw their own money.

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The panel has stated the Government must give regulators the measures needed to protect their ability to withdraw money.

They also stated banks should be made to give customers access to cash.

A Treasury spokesman said: “Technology has transformed banking for millions of people, but we know that many still rely on cash.

“That’s why we’ve invested £2bn to ensure everyday banking services are available at 11,500 Post Office branches across the UK.

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“We’re also working closely with industry and regulators to ensure everyone who needs cash can access it.”

Cash is still important to people across the country in order to pay for vital services, such as utility bills.

According to the Financial Inclusion Commission, nearly two million people in Britain don’t have a bank account, meaning they need cash to pay for goods.

There were an estimated 11 billion cash payment in the UK in 2018.

Those, however, are forecast to fall to 3.8 billion in 2020.

Some in the industry have called on new Chancellor of the Exchequer, Rishi Sunak, to put certain protections on the service.

Jenny Ross, Which? Money Editor said: “The cash network has already been dramatically eroded, and unless urgent action is taken in the Budget, it’s clear that it will crumble completely.

“The new Chancellor must seize this opportunity and guarantee long-term access to cash in the Budget, while developing a clear strategy to ensure that the transition to digital payments doesn’t leave anyone behind.”

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