New pilot to help people in Denny get access to cash a 'positive' move

A plan to make it easier for Denny residents and businesses to get their hands on cash has been hailed as a “positive” move – despite concerns over its long-term viability.
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The town was chosen in June as one of nine locations across the UK to host trials as part of a Community Access to Cash Pilot (CACP) initiative based on its geography, issues the community faced and those willing to lead the scheme.

The CACP allows communities to work with the banking industry to identify sustainable solutions so cash is feasible for individuals and businesses alike.

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A limited availability of cashpoints, coupled with the fact Denny business owners or residents can no longer walk into a local bank, was a deciding factor in the roll-out of the scheme, which will see cashback with purchase offered by a large number of stores.

Difficulties with accessing cash in Denny led to the town being selected for a national pilot scheme. Picture: Michael Gillen.Difficulties with accessing cash in Denny led to the town being selected for a national pilot scheme. Picture: Michael Gillen.
Difficulties with accessing cash in Denny led to the town being selected for a national pilot scheme. Picture: Michael Gillen.

With 16 per cent of the 8000 or so people who live in Denny aged over 65, a number of measures will be trialled between now and summer 2021 to help those who either don’t have access to or struggle with online banking.

These include:

A refreshed Post Office with improved cash facilities which can better meet community needs; cashback without purchase offered by PayPoint

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Convenience stores; digital education services to help those who want to access digital banking services;A Vulnerable Customer Directory offering support to those who need it; a digital solution to coin recycling which allows consumers to store change on a card or app, saving retailers from managing small change; and a Vulnerable Customer Directory – ensuring that everyone is aware of the services the retail banks can offer.

The pilot follows a recent report from UK Finance which reveals cash use now represents less than one-quarter (23 per cent) of all payments in Britain, a 15 per cent drop year-on-year.

Though he welcomes the initiative, Councillor Jim Blackwood, Labour representative for Denny and Banknock, believes its potential for success remains uncertain.

He said: “In the Denny area, where there are no longer any bank outlets, the initiatives outlined to give local residents the opportunity to work with cash are very positive.

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“In the long-term, success of these initiatives could be challenging particularly in the current climate where many outlets are operating a cashless payment system and using Covid-19 as an excuse.

“Once these establishments operate this method for any significant period of time they may become set in their ways and be reluctant to go back to accepting cash.”

Denny and Banknock Councillor Fiona Collie, of the SNP, said: “The pilot looks very interesting.

“We know that despite many people being confident and preferring digital options or non-cash options, significant proportions of people prefer cash or simply do not have access to non-cash options.

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“This broad approach offering both consistent access to cash, particularly for vulnerable customers, but also enabling those who wish support to learn digital options looks a positive one.

“This is particularly important with a move further away from cash during Covid but this may have left individuals even further behind.”

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