USING cash is falling out of favour, as figures reveal that 75 per cent fewer people are withdrawing money than a year ago.
New research from MoneySuperMarket has revealed that people in Redditch are using cash less – and contactless payments more.
The study found that on average people make 20 per cent more payments with card or contactless devices than with cash, suggesting that, over the course of a year, individuals are now making around 110 more non-cash payments than cash payments.
Three out of four people admitted they withdraw from an ATM less often than they did one year ago and more than a third now use contactless or card payments whenever possible.
However, just over a quarter surveyed said they would disapprove of a move towards a cashless society, citing the preference to use cash “on occasion”.
Read more about the study at https://www.moneysupermarket.com/credit-cards/losing-contact-with-cash/