Londoners are moving away from cash faster than the rest of the country, according to new data.
Figures from Link, the firm behind the majority of the UK's cash machine network, shows the capital's residents and workers are taking out £500m less every month from machines compared to pre-pandemic levels.It comes as some businesses are increasingly rejecting cash., but some independent businesses, like restaurant The Indians Next Door in Spitalfields, East London, also only take card and digital payments.
Makshudur Rahman, who runs the Mahfuj Jewellery shop, told BBC London: "In this area, some people [are] on very low incomes so they prefer cash because when you pay by card you don't know how much you're spending."Some are concerned that the poorest and most vulnerable groups could be affected by businesses going cashless
Link's data suggests many still rely on cash to budget their finances. And they are likely to be among the most deprived people in the capital.