East Yorkshire MP Sir Greg Knight is one of the sponsors of a cross-party Parliamentary motion calling on Britain’s banks to stop the scrapping of free cash machines from our high streets.
The motion reveals that nearly 1,700 machines started charging for withdrawals in the first three months of 2019 and that if this trend continues it will have a disproportionate impact on rural communities and people with modest incomes.
Sir Greg said: “Whilst there are many ways to pay for goods and services cash is still a vital part of our everyday life especially in rural communities.”
“Although it may suit banks to nudge consumers towards using cards for every transaction because they charge the retailer a fee, it doesn’t suit all their customers and neither does it suit a good number of small businesses in rural areas.”
“One day there may be a case for dispensing with cash, but that day is a long way down the line. I am urging banks to put these plans on hold.”
Sir Greg argues that before seeking to phase out, or charge for the use of cash machines banks should at least consult widely including with MPs, business groups and Age UK on the possible local social impact.