New Study Finds UK Workers Frustrated by Cash Payments

June 23, 2014 – Seventeen million UK workers are frustrated by the inconvenience of cash payments according to the Working Day Spend Report, released by Visa Europe. With 23% being regularly not having enough cash on hand to make a particular payment and 30% having to ask a taxi to deviate from its journey in order to stop at a cash machine, workers regularly find paying with cash a nuisance.

Although cash usage has dropped overall in the last five years and cards are widely accepted, UK citizens still rely on cash for smaller payments. That’s despite nearly half (46%) admitting they are quick to spend the cash they have in their wallet, leading to two thirds (66%) withdrawing cash at least once a week. Survey respondents spend an average of £10.59 on small and regular purchases throughout the day, the equivalent of £2,541.60 every year.

London workers use cash the least with just over half (55%) using it to buy lunch, showing that faster payment methods are being embraced more quickly in the capital. In contrast 81% of Glasgow workers use cash to buy lunch, leading to over half (55%) often getting frustrated by having to wait to pay in store.

According to the report, the average UK worker carries less than £25 in their wallet at one time and withdraws cash at least once a week.