Part of Suffolk is one of the hardest places in the country to get cash
That's according to new research from Which?
Central Suffolk and North Ipswich is one of the hardest places in the country to get hold of cash.
It's one of 17 parliamentary constituencies identified by Which? that has three or fewer bank branches and 30 or fewer free-to-use ATMs.
That's according to new research from Which? which found nearly a quarter of free-to-use ATMs have vanished since 2018, and almost half of bank branches have been earmarked for closure since 2015.
The consumer group says those who rely on face-to-face banking services and cash to pay for everyday essentials are at risk of "being cut adrift".
People aged 65 and over make up around a quarter (23%) on average of the population across the 17 constituencies that Which? said have poor access to cash.
The consumer champion also sent a letter to the Treasury on Monday which says: “With rising living costs placing additional pressure on people’s personal finances, the consequences of being unable to withdraw cash for those consumers who already rely on it could be significant.”
The letter continues: “Unless legislation is introduced urgently, the ability to access, spend and deposit cash could be permanently lost for many consumers, leaving some of society’s most disadvantaged at risk of financial exclusion with no way to pay for the goods and services they need in their daily lives.”
The letter is also backed by other organisations including Age UK, Fairer Finance, the British Retail Consortium (BRC), StepChange Debt Charity, the Money and Mental Health Policy Institute, and the Federation of Small Businesses (FSB).
FSB national chair Martin McTague, who sits on the Access to Cash Pilots Board, said: “This Queen’s speech is the last chance saloon where protecting access to cash is concerned.”
A Treasury spokesperson said: “We know that cash remains vital for millions of people and we are committed to protecting access to cash across the UK.
“That’s why we have consulted on plans for new laws to make sure people only need to travel a reasonable distance to pay in or take out cash, and have already legislated to enable shops to offer cashback to customers without them having to make a purchase.
“We have considered responses to the consultation and will set out next steps in due course.”
The Post Office helps to fill gaps in the cash system. It has an agreement with many banks which allows the banks’ customers to do their day-to-day banking over post office counters.
Ross Borkett, head of banking at the Post Office, said: “In many places across the country, Post Office is providing the last counter in town where people can access cash.”
He added: “Our postmasters continue to provide convenient and secure access to cash services, helping to protect cash and supporting local communities and businesses.”