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Brits shunning cash over misplaced fears about Coronavirus spread

Brits shunning cash over misplaced fears about Coronavirus spread

New research commissioned by GoCompare Money reveals that a third of UK adults are avoiding using cash because of the risk of spreading the Coronavirus, despite reassurances by central banks and the World Health Organisation over the safety of cash payments.

The research found that since the UK went into lockdown, 27% of the 2000 adults surveyed said they have not shopped with cash at all during the pandemic.

The survey found that 76% of consumers have used a contactless credit or debit card, 61% have made a PayPal payment, 17% have used a smartphone payment system and 15% have used Bacs.

Eight percent of people used a contactless card for the first time during lockdown, while seven percent made a payment with their phone for the first time.

A significant minority (14%) said that they no-longer carry cash, and 16% said that they would be happy to live in a cashless society.

Lee Griffin, CEO and founder of GoCompare, comments: “In early March, there were news reports about the spread of the Coronavirus on banknotes and coins. However, the Bank of England and the World Health Organization have stressed that cash doesn’t pose any greater risk than any other items and, repeated the advice on regular hand washing. However, from the results of our survey, it’s clear that many people remain concerned about the potential of money to be contaminated."

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