Alliance and Leicester Commercial Bank

The Myth of the 'Cashless Society'
Almost all (94%) of UK adults have used cash to pay for goods and services in the last 12 months. And perhaps surprisingly, it is the younger generation that prefers to pay with cash. A survey undertaken on behalf of Alliance and Leicester Commercial Bank found that 75% of Britons aged between 16 to 24 said cash was their favoured method of payment, suggesting that cash still has a big future in the UK. It is the spontaneous purchasing of small everyday essentials where cash dominates most. When buying goods for less than £10, the survey found that 82% of adults rely on cash compared with debit cards (11%) or credit cards (4%).

Newsagents benefit most out of Britons love for cash with 95% of their customers preferring to use notes and coins to buy their newspapers and magazines. Cash is also popular when buying food and drinks in pubs and clubs (85%) and also for buying takeaways (86%).

Russell Carter, Head of Cash Marketing at Alliance and Leicester Commercial Bank, said:

"Our research shows that more than £57billion in cash is spent each year on every day items. This is great news for the thousands of newsagents, cafes and corner shops throughout the UK that thrive on these purchases. Whilst card payments are increasing, our research shows that the Great British public believe cash is still king."

"Local businesses and traders such as newsagents, snack bars and cafes are being supported by the UK’s spontaneous spending culture. A move towards a 'cashless society' could be detrimental to these businesses as many don’t currently have the capability to accept payment by credit or debit card."

For cash handling requirements, more and more businesses are turning to Alliance and Leicester Commercial Bank, the leading Cash Handling specialist. Alliance and Leicester looks after the cash handling needs of the majority of the country’s top retailers, processing £61bn in cash during 2003, which equates to £1 in every £4 that is processed through UK tills. Not only is it the household names in our high street that are saving money on their bank charges, small and medium sized businesses are able to benefit from the winning combination of competitive costs and high-quality service too.

Cash Management Specialists
Alliance & Leicester Commercial Bank offer an alternative business banking solution and provide customers with:

Let us make life easier
As well as your cash, we can take care of all your debit/credit card processing and cheque transactions.

To find out how you can save all year round on your bank charges
Call Free on 0800 056 6046 quoting: CH0364.
Lines are open 8.30am to 5pm weekdays.
Alternatively, visit our web site at www.alliance-leicestercommercialbank.co.uk