Post Office, ATM & Bank closures and their effect on Older People Briefing Paper January 2019

By | January 17, 2019

The way people are accessing their money is changing. Whilst the increased use of technology and cashless services has been beneficial for many, there are still millions of people who rely solely on notes and coins for monetary transactions.

Cash usage has dropped dramatically over the past decade, by roughly a half, with the introduction of cashless payment methods and the increased use and security of online shopping. Furthermore, the UK has lost almost two-thirds of its bank branch network in the past 30 years, leaving a fifth of households more than 1.8 miles from their nearest current account provider. There have been 2900 branches close in the last 3 years alone.

Post offices banks ATMs and Older People briefing paper January 2019

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