According to a survey, almost half (48%) of people expect to experience a cashless society in their lifetime.
One in six (15%) said they never carry cash, a figure more than three times higher than the 4% of people who said this in 2019.
The proportion of people who expect the UK to go cashless over their lifetime has risen from just over two-fifths (41%) when similar research was carried out in 2019, according to Cash Access and ATM Network Link.
Seven in ten (71%) of those surveyed still rely on cash to some extent in everyday life and said they had used cash in the last two weeks.
Link data shows UK consumers are still withdrawing £209 million a day from ATMs. However, that is around a third or £100 million less than in 2019.
Almost half (48%) of people said they would find a cashless society problematic.
In 2023, legislation was passed under the Financial Services and Markets Act to protect access to cash.
Consumer group Which one? said the number of British bank branches that have closed their doors over the past nine years reached 6,000 on Friday last week.
There are various initiatives to help close gaps in the cash access network when bank branches close.
The 50th bank location was recently opened. Banking hubs allow banks to share facilities. They have a post office operated counter service that allows customers to conduct routine banking transactions.
The Post also recently reported that cash transactions at its branches reached a record £3.48 billion in April. The post office has agreements with many banks that allow their customers to carry out everyday banking transactions over their counters.
John Howells, CEO of Link, said: “Although the UK is on its way to becoming a cash-constrained country, we now have legislation in place that will help Link maintain a national network of free ATMs and banking centers, ensuring that everyone , who needs access to cash can do so.
“But having cash is no use if the best goods and services are only available online, and that is becoming a real problem for millions of cash-dependent consumers. The focus now must be on access to digital.”
Natalie Ceeney, chair of the Access to Cash Review, said: “Despite massive growth in digital payments over the last five years, there are still millions of people who rely on cash and half of the UK population are worried about the prospect of it Cash.” Cashless society.
“People need cash for a variety of reasons and the barriers to using digital payments are very real.”
She added: “We are certainly not ready to become a cashless society.”
Lord Holmes of Richmond, deputy chair of the All-Party Parliamentary Group (APPG) for FinTech, said: “We are clearly moving towards a digital future and while some of the benefits for society and the economy will be transformative, there are a clear and distinct outcome.” There is a danger that we move forward without a clear plan to take everyone along on this journey.
“There are already real-world examples where the move to digital disadvantages those who are currently unable to use technology. This should be an opportunity to move everyone forward and we cannot afford to waste it.”
He added: “Financial inclusion and digital inclusion are inextricably linked. We have to make both possible.”
A UK Finance spokesperson said: “While many people choose to pay by card, there are still many people who prefer to use cash.”
“The number of cash payments has declined over the last decade and we expect cash use to continue to decline. However, the financial industry is committed to ensuring access to cash for those who want to use it. Companies also offer support and advice to anyone who needs help using digital banking services.”
More than 2,200 people across the UK were surveyed by YouGov in April.