18 August 2017
visit www.avoka.com

Cashless future a myth - Alliance & Leicester

05 April 2004  |  5643 views  |  0 Cashless future a myth - Alliance & Leicester

Despite predictions of a cashless future, one in ten (11%) people in the UK expect to be using more coins and notes in five years' time, according to a survey by Alliance & Leicester Commercial Bank.

Only 15% of respondents said they will be using less cash in 2009, while almost half (41 per cent) don't expect any change.

The bank says the vast majority of Britons (82%) still rely on cash for purchases under £10 and seem to be reluctant to change this. Russell Carter, head of cash marketing, Alliance & Leicester Commercial Bank, adds: "People feel more in control of their spending when they use cash as they can see exactly what they are handing over."

The research found that the younger generation are more inclined to use coins and notes in the future - with over a quarter (27%) of 16-to-24 year olds predicting they will use more cash in five years' time compared to less than one in ten (9%) of 35-to-44 year olds.

Looking to the future, respondents are unsure about the longevity of sterling - the research found that more than one in three (37%) expect to be using the euro by 2009.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

KLM replaces cash handouts with pre-paid debit cards

KLM replaces cash handouts with pre-paid debit cards

02 April 2004  |  6951 views  |  0 comments
Electronic payments overtake cheques and cash in the US

Electronic payments overtake cheques and cash in the US

16 December 2003  |  6817 views  |  0 comments
UK public divided on euro but cash is still king

UK public divided on euro but cash is still king

24 February 2003  |  3509 views  |  0 comments
Cash is still king says Girobank

Cash is still king says Girobank

14 October 2002  |  3645 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.euvisit www.dorsum.euvisit www.niceactimize.com

Who is commenting?

Top topics

Most viewed Most shared
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
10088 views comments | 8 tweets | 16 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8369 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7814 views 0 | 1 tweets | 9 linkedin
PayPal buys Swift Financial to boost working capital bizPayPal buys Swift Financial to boost worki...
7761 views comments | 13 tweets | 7 linkedin
Uneasy sits the crown as cash use continues declineUneasy sits the crown as cash use continue...
7727 views comments | 3 tweets | 7 linkedin

Featured job

Competitive base and bonus, plus benefits
London, UK

Find your next job