Money Box Live: The Future of Cash
Money Box
BBC
4.2 • 825 Ratings
🗓️ 18 October 2022
⏱️ 29 minutes
🧾️ Download transcript
Summary
Ten million people would struggle to cope in a cashless society even though only 17% of payments are not made with notes and coins, the Royal Society of Arts found.
With thousands of bank branch closures in recent years, and access to cash withdrawals under threat, we discuss if we’re ready to abandon cash.
Dan Whitworth is joined by a panel of experts to hear callers experiences and thoughts on the UK becoming a cashless society.
With Natalie Ceeney CBE, Chair of Cash Action Group and Mike Chambers, chief executive of payment consultants Northey Point.
Presenter: Dan Whitworth Producer: Amber Mehmood Editor: Clare Worden
Transcript
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| 0:00.0 | On a winter's night in 1974, a crime took place that would obsess the nation. |
| 0:07.0 | It was an extraordinary news story. |
| 0:09.0 | The story of an aristocrat, Lord Lucan, who's said to have killed the family Nanny, |
| 0:14.0 | mistaking her for his wife, then somehow just disappeared. |
| 0:18.0 | One of the great mysteries in English criminal history. We're still looking for |
| 0:21.7 | Lucan. It's honestly one of the most powerful stories of my lifetime. I'm Alex Fontunzelman. This is |
| 0:27.8 | the Lucan Obsession. Listen on BBC Sounds. BBC Sounds, music, radio, podcasts. Welcome to this Moneybox Live podcast, the program about your money. |
| 0:40.8 | Today, we're talking about cash, more specifically how you get hold of it or how you never even use it anymore. |
| 0:48.2 | This program is all about access to cash. If you do use notes and coins occasionally or everyday, where'd you get them from? |
| 0:56.4 | Can you go to different bank branches or cash machines near you that leave you spoilt for choice |
| 1:01.0 | or do you live in a cash desert where there isn't a machine or branch for miles around? Or are you |
| 1:07.1 | happy with cards, phones and maybe even smartwatches? |
| 1:16.7 | But before we hear from our experts, I want to introduce you all to Margaret from Blainefield, who joins us now. |
| 1:17.3 | Hello, Margaret. |
| 1:18.8 | Hello, good afternoon. |
| 1:20.0 | Good afternoon, Margaret. |
| 1:26.6 | Margaret, let me ask you, how reliant are you on cash as opposed to paying for things with a card, for? Well to be honest I use my daily shopping so my daily purchases are with a cards mostly. |
| 1:37.3 | But I do take out cash because I go into cafes and when I go into a cafe I like to pay with cash. Okay, so that's obviously when you're doing things like going to cafes. |
| 1:48.0 | Does having that cash around, does that help you to budget better, for example? |
| 1:53.0 | It does. I don't budget as well as I did before lockdown. |
| 1:58.0 | Because what I used to do was I would have my pension I would put a certain amount of money into a separate bank and then take the cash out I would divide them the month into five if it was a five week month and put an amount of money in an envelope |
| 2:17.7 | and when the money in that envelope was gone |
... |
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