More reports of banks removing cash services, at a time when the Senate Inquiry into Regional Branch closures highlighted again the need for access to cash.
According to the Bank of England, cash is still important for several reasons. Cash is a fast and convenient way to pay. It is widely accepted. It is helpful for budget management. Cash payment is entirely anonymous.
Moreover, cash is a stable currency system that is resilient in times of crisis and reflects a nation’s identity . It is also the most secure means of payment.
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