Electronic transfers are taking over

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News
January 20, 2021
Money

We are now living in a society in which we use cash less. Transactions are electronic. With the unwillingness to touch other peoples’ possibly Covid infected money, we have leapt into a cashless society.

Chances are you have had at least one refusal when you have offered cash in a grocery store, pub or restaurant. About one in three of us, according to Which, have been refused at least once since the first lockdown last March.

And just as our working life has changed because of Covid, so has our financial life. Working aside, look at the rise of children’s debit cards such as ‘Gohenry’ for teaching money skills for life. I wonder if the tooth fairy can use them!

But spare a thought for the more vulnerable in our society, who still rely on cash donations. Their life is going to get tougher.