Poorest and older people hardest hit by '˜cashless society' move

People on low incomes and older generations will be hardest hit by bank and ATM closures. Picture: John Devlin.

People on low incomes and older generations will be hardest hit by bank and ATM closures because they use cash more frequently than other customers, research released by consumer group Which? today reveals.

Research by Which? shows that over three-quarters (78 per cent) of consumers in the two lowest household groups rely on cash the most – using it at least two or three times a week - and are less likely than average to use a card.

Just over a quarter (26 per cent) of the poorest off never use card payments. Among older generations, considered one of the most at risk of social exclusion when bank branches and cash points disappear, four in five retirees (80 per cent) rely on cash.