Denny and Cambuslang to take part in scheme to improve access to cash

Two locations in Scotland have been chosen to take part in an initiative to help improve communities’ access to cash.

The areas taking part in the Community Access to Cash Pilot (CACP) scheme will work with the banking industry in the hope of finding solutions to keep money viable for people and businesses.

Denny in Falkirk and Cambuslang in South Lanarkshire are part of the programme.

Some examples of potential improvements include having a place for retailers to deposit cash locally, installing new ATMs or sharing bank branch facilities.

There will also be a focus on “digital inclusion”.

Better broadband connections or improved digital skills could also be ways of making it easier for people to access their money.

The solutions could vary depending on the needs of a particular community.

Cambuslang was left “unbanked” following bank branch closures in quick succession.

The community is keen to support financially vulnerable customers in accessing cash, and small businesses.

Meanwhile, Denny has experienced a reduction in access to cash facilities.

This is particularly problematic as around 16% of its 8,000 population are over 65 years old.

The pilot initiative is being led by Natalie Ceeney, who chaired the Access to Cash Review and the findings will be published in early 2021.

Cash use has plummeted during the coronavirus outbreak, with many shops encouraging people to pay by card and people visiting ATMs less often.

According to figures from UK Finance, 7.4 million people rarely or never used cash in 2019 - but 2.1 million used cash regularly.

Ms Ceeney said: “Over the past decade we've seen a massive shift from cash to digital payments, and Covid-19 has accelerated that trend further.

“But we know that digital payments don't yet work for everyone, and for many individuals and communities, cash remains essential.

“But the world is changing - we can't just 'magic' back our old bank branch and ATM infrastructure. Instead, we need to use innovation to develop new solutions as well as harness tried and tested approaches to meet people's needs.”

John Glen, Economic Secretary to the Treasury and City Minister, said: “Digital payments have brought huge benefits, but we know that cash remains important to many people's lives.

“So I welcome today's announcement of the locations of the pilots, which will help inform the most effective ways of protecting access to cash at the local level, at a time when our communities mean more to us than ever.

“I look forward to seeing the progress made by the pilots, as the Government develops legislation to protect access to cash,and would like to thank Natalie Ceeney CBE for her work on this important issue.”

The other locations chosen are Ampthill in Bedforshire, Burslem in Staffordshire, Botton Village in North Yorkshire, Hay-on-Wye in Powys, Lulworth in Dorset and Rochford in Essex.

Some further locations will be confirmed in the coming weeks.

Hear all the latest news from across Edinburgh, the Lothians, Fife and Falkirk on Forth 1. Listen on FM, via the Rayo app, on DAB or on your smart speaker.