UK Finance Report highlights continued importance of cash, says Later Life Ambitions

LONDON, 19 AUGUST 2026 – New figures showing the continued importance of cash have highlighted the need to protect access to face-to-face banking services and ATMs.

UK Finance’s latest Payments Market report has found that cash was still used for 3.9 billion payments in 2025, while nearly 50 million people used a cash machine during the year. Although cash use is expected to continue falling, around two billion payments are still forecast to be made using notes and coins in 2035.

This comes as access to cash continues to decline. LINK figures show that the number of cash machines fell by 5% in 2025 alone, from 44,569 to 42,403, while the number of free-to-use ATMs fell from 35,468 to 33,710.

Later Life Ambitions (LLA) has long campaigned to protect access to cash and in-person banking services, particularly as the number of high street bank branches and ATMs has declined.

Jonathan Safir, Deputy General Secretary of the Civil Service Pensioners’ Alliance and a spokesperson for LLA, said: “The way people pay is changing, but these figures make clear that cash remains important to millions of people and will continue to do so for years to come.

“This is particularly true for older generations, many of whom continue to rely on cash for everyday spending and managing their finances.

“That makes continued access to in-person banking services vital, whether through traditional high street branches, Post Office counters or the rollout of banking hubs, alongside a reliable network of ATMs.

“The decline of these services will inevitably affect people who rely on cash or are less able or willing to manage their finances digitally. As banking changes, people must still be able to access and use their money in the way that works for them.”