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UK slowly turning into a cashless society
15 Sep 2010

Britain could be set to become a wholly cashless society after new research found that there are fewer cash machines in the UK

A study by the Payments Council revealed that the number of ATMs fell by 440 between April and June compared with the first quarter of 2010.

Furthermore, withdrawals from cash machines fell by 3.2 per cent (£1.6 billion) compared with a year ago.

Sandra Quinn, a spokeswoman for the Payments Council, claimed the figures show how the "UK payment revolution" is beginning to gather pace.

She said: "We use cash less where there is an easy alternative, but we are years away from cash falling out of fashion.

"Debit cards are taking over our daily purchases, while Faster Payments are fast becoming how we transfer our money electronically."

Cheques are becoming an increasingly underused payment method, as the research showed cheque usage was down 10 per cent compared to the same period in 2009.