While the King is appearing on banknotes, cash may be disappearing from our lives.
“This is a historic moment, as it’s the first time we’ve changed the sovereign on our notes,” said Bank of England governor, Andrew Bailey.
“We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demand them.”
But a survey for Link, the UK’s cash access and ATM network, found that nearly half (48%) of those asked said they expected a cashless society during their lifetime.
However, the same proportion said this would be problematic, and 71% of those surveyed said they still had some level of everyday reliance on cash.
Yet figures from consumer association Which? found that 6,000 bank branches had closed in the last nine years, leaving many places with none at all and limited access to cash.
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