Co-op pledges free ATMs to save communities from becoming ‘cash deserts’

The Co-op has pledged to help disadvantaged areas avoid becoming “cash deserts” by offering free ATMs in every store and cashback opportunities, where possible.

The move comes as research by the symbol group retailer revealed 16 million shoppers are relying on notes and coins to budget during the cost-of-living crisis.

The ‘Way We Pay’ report found that cash use had fallen from 65% to 28% since 2016.

Despite London topping the list of locations where contactless payments are most common, some boroughs still see one in three shoppers paying by cash.

READ MORE: Co-op expands tech-recirculation trials to cut e-waste

The report highlighted a north-south divide, as cash-use in many areas remain as high as 44%, such as in the Northeast, Wales, and Scotland.

These areas have also been hit hard by bank closures, with the majority affected by poverty and high unemployment levels.

In terms of the areas least dependent on cash, English counties made up 80% of the list – with 50% of those in the Southeast and 25% in the Southwest – where unemployment levels are low.

To safeguard easy access to cash, which is under threat from high street bank closures, removal of free ATMs and the rise of cashless retailing, the Co-op are planning on making their free cash machines more easily available.

“Insight and data within our latest report indicates that while contactless has become the preferred way for many to pay, cash remains a key payment method that the public looks to for confidence and security,” Co-op Food co-managing director of Matt Hood said.

“As a community-led convenience retailer it’s important to us that while we have the correct technology that offers convenience, we also have the in-store facilities that offer vital services to customers and communities that continue to use cash.”

He added: “The clear north south divide highlights the inequality issues that are still apparent in society today, despite the government’s levelling up agenda.

“By introducing this charter and making these commitments we can continue to protect and provide easy access to cash, particularly in those communities that rely on it most.”

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