With retailers and eateries increasingly refusing to accept coins and banknotes in the fight against coronavirus, has 2020 finally sounded the death knell for cash?
The pandemic is just the latest event to have contributed to the decline of cash in recent years. The introduction of online banking, ATM closures and the rise of contactless payment have all played their part.
However, statistics show that lockdown has certainly accelerated this trend. The contactless limit was recently increased to £45, with Mastercard reporting that 66% of UK transactions are now contactless.
While the increase of technology in our everyday transactions has been welcomed by some, the reality is that many people still rely on cash, with Age UK suggesting that it’s still a necessity for 25 million of us.
Catch up on our other blog posts:
Engaging with your home insurance requirements can be challenging but running the risk of not tuning in and getting the most suitable cover - and the right level of cover - could be financially devastating if an unwelcome event were to occur. Although home insurance...
Many people find that the language of protection insurance isn’t particularly user-friendly, with confusing terminology often becoming a barrier to finding the right insurance. We believe that nobody should be prevented from protecting themselves and their loved ones...
Income protection insurance refers to a group of insurance products that help you out financially, if you lose your income due to injury or illness. The COVID-19 pandemic has greatly increased awareness of the importance of having a safety net to fall back on in times...
(Your home may be repossessed if you do not keep up repayments on your mortgage)
We charge a fee for arranging and advising you on the mortgage. The fee will be dependent on your circumstances but will not exceed £499. (Our typical fee is £299.)
For Lifetime Mortgages/Equity Release the fee will be £799.
Our mission is to provide honest mortgage advice, whilst helping you save money.
Get in contact
Or call —02380224925