Cash payments return to UK for first time in decade

Cash payments return to UK for first time in decade

The first time in a decade that cash payments have made a comeback in the UK, data shows.

The banking body, UK Finance, said that many people have returned to physical money to help them budget as the cost of living crisis squeezes disposable incomes.

Ann Broom, 65, started using notes and coins again about a year ago, after decades of relying on her debit card. Broom, who retired in 2015, had recently taken a part-time job cleaning holiday homes in Anglesey, but now turned to physical money for her financial health to better track her spending.

I have always used a debit card for groceries... but when things started to get so pricey I thought it's so easy to swipe or contactless - I need to have a look at what I'm spending. I decided that using a debit card was a bit like using invisible money, she said, adding that she still checks her online banking.

Jackie Machin, 65, has fought to keep paying all her bills, including energy and water, with cash at her local post office in north Wales.

Adam, 36, prefers physical money for security reasons, despite being surrounded by technology. ''I have nearly fallen victim to a scam when I trust some shops and companies with my card payment information - it's [possible] to clone cards using a chip and pin machine and I have nearly fallen victim to a scam before.