Cash use in the UK increased for the third consecutive year in 2024, according to data from Nationwide, Britain's biggest building society. Nearly 33 million withdrawals were made from Nationwide ATMs last year, with the highest rises in Chiswick, west London, and Shotton, north Wales. The Post Office also reported a record £1 billion withdrawn in cash at post offices in December, with £3.7 million withdrawn or deposited on Christmas Day alone.
In Shotton, the increase in cash transactions is partly attributed to the closure of two banks on the high street—Lloyds last March and NatWest the previous November—which took their cash machines with them. Residents say paying with cash helps them budget as living costs rise. Carl Thompson at Buy, Sell, Trade pawnbrokers noted that in December, 85% of transactions were in cash, the highest in his 25 years in retail. He added that many customers sell items to pay bills, such as electricity.
Some businesses encourage cash payments to avoid card processing fees. Hasan Dabanli at Head Chef Cafe and Restaurant offers a 5% discount for cash payments, stating, “Cash is king.” Customers like Emma McKenzie, 46, and Linda Watton, 63, prefer cash for budgeting, with Mike Watton, 64, saying, “If you have cash in your pocket… you see it going down.”
However, a generational divide is evident. Younger people, such as students Maddie Shade, Evie Thomas, and Jamie Morris, all 18, prefer cards or Apple Pay for convenience. Robert Curran, 70, proprietor of Shotton Cards for 45 years, predicts cash will eventually cease to exist, as 90% of his younger customers pay by card or phone.
