Businesses Which Reject Instructions From Bank To Go “Cashless” Have Accounts Closed? - Image 1

Businesses Which Reject Instructions From Bank To Go “Cashless” Have Accounts Closed?

Posted on: 01/08/2023

The revelation that banks order business customers to go “cashless”, with the threat that their accounts will be closed if they continue to accept cash should surprise no one.

The majority of UK banks have been implementing a PLAN for 15 years plus, a PLAN to force the UK public to towards “cashless”.

This PLAN was inevitable when the same banks decided to strip their branch networks and ATM numbers down to an absolute minimum.

Without branches and ATMs, banks cannot easily provide their customers - business and personal - with cash withdrawal or deposit facilities.

Banks decided that branches HAD to go - and produced highly dubious branch usage statistics to “prove” branches were not needed.

That decision taken, the banks knew cash had to go - so the constant push towards “cashless” was as certain as night follows day.

Meantime, over 90% of the UK public continue to use cash, regularly or occasionally.

Clearly, the banks pushing their “cashless” PLAN have been acting completely against the interests of the British public.

So what MUST the government do?

  1. Pass a UK Payment Choice Act, guaranteeing the British public can use their cash, when and where they choose.
  2. Replace the current outdated method of calculating the need for cash withdrawal and deposit facilities in every community - a method used by LINK, the UK ATM network - with a new methodology which properly reflects the fact that 90% of the British public continue to use cash.

HM Treasury needs to announce action of both these “must do” actions in their Policy Statement on Cash Access expected in September 2023.

No more procrastination; the time for action is NOW.

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