Counting on Cash

Cash Still Matters on the High Street

Cash Still Matters on the High Street

The way we pay has changed dramatically in recent years. Contactless cards and mobile wallets are now the default for many shoppers, and the number of ATMs and bank branches across the UK has fallen sharply.

But despite this shift, a new report from LINK – the UK’s Cash Access and ATM network – shows that cash remains a lifeline for millions of people and a powerful reason to keep visiting local high streets.

Six Towns, Six Stories

The Counting on Cash report, published to mark the one-year anniversary of Financial Conduct Authority rules to protect access to cash, dives into the lived experience of six very different towns: Acton (London), Bathgate (West Lothian), Bakewell (Derbyshire), Cleethorpes (Lincolnshire), Denbigh (Denbighshire), and Stamford (Lincolnshire).

While every community has seen a fall in ATM use, their relationship with money is far from uniform. For example:

• Cleethorpes and Denbigh still show strong reliance on cash.

• Bakewell and Stamford, by contrast, lean heavily towards cards and mobile payments.

• Acton stands out as a mixed picture – even with high digital adoption, cash remains essential, likely reflecting the needs of new arrivals to the UK.

These differences highlight a key finding: place matters. Access to cash isn’t just about convenience; it’s tied to local identity, demographics, and how communities adapt to change.

Why Cash Access Still Matters

Across the six towns, an average of 38% of shoppers used or planned to use cash on their high street visit. In Acton and Cleethorpes, that figure was close to half. And while digital payments are growing, 62% of people still rely on their high street for banking services, often to pay in money.

Banking access is also a driver of footfall. Nationally, 57% of respondents said banking was an important reason to visit their high street. But the picture shifts depending on local services. In Stamford, where three bank branches remain, fewer people saw it as crucial. In Cleethorpes, where just one branch is left, banking access was seen as vital by more than seven in ten.

This suggests that the availability—or lack—of services can directly shape how people use their high street.

Recommendations for the Future

The report doesn’t just highlight challenges—it sets out a path forward. Key recommendations include:

• Maintaining a national commitment to cash access.

• Adapting infrastructure to reflect local needs.

• Promoting digital inclusion alongside cash.

• Continuing hyper-local assessments to make sure no community is left behind.

As Nick Quin, LINK’s Chief Corporate Affairs Officer, puts it:

“Our report is called Six Towns, but it’s very much about six different stories… The nation’s cash infrastructure remains critical to the economy and as this report shows, it’s important to our high streets too.”

The Bigger Picture

The debate isn’t about choosing cash or digital. It’s about balance. For some, cash is a daily necessity—for budgeting, security, or accessibility. For others, digital is effortless and preferred. The challenge is ensuring the UK’s payment infrastructure supports both, without leaving anyone out.

Want to dig deeper into the six towns and the future of cash access?

The Counting on Cash report, marks the one-year anniversary of Financial Conduct Authority rules to protect access to cash, dives into the lived experience of six very different towns: Acton (London), Bathgate (West Lothian), Bakewell (Derbyshire), Cleethorpes (Lincolnshire), Denbigh (Denbighshire), and Stamford (Lincolnshire).

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