Federal Association of Consumer Organizations calls for barrier-free access to cash

Federal Association of Consumer Organizations calls for barrier-free access to cash

According to a report by www.westfalen-blatt.de, the Federal Association of Consumer Organizations (vzbv) is calling for easier use of cash. According to a survey by the consumer advice center, the distance to the nearest cash machine has increased for 26 percent of people in Germany over the past three years. In addition, 27 percent of those surveyed said that they had been in the situation at least once in the past six months where a cash payment was not accepted. Because of this, the vzbv calls for secured access to cash and an obligation for retailers and restaurateurs to accept cash. The choice between cash and digital payments must be retained.

The increasing closure of bank branches and the dismantling of ATMs in the wake of the Corona pandemic has limited the availability of cash for many consumers. This can cause problems, especially for people who rely on cash, for example due to lack of internet access or poor financial situations. Limited availability of cash can lead to financial exclusion and endanger social cohesion. The demands of the vzbv could therefore help to ensure financial participation and self-determination for all population groups.

The founding of the Bundesbank's National Cash Forum shows that the topic is becoming increasingly important to the general public. The cooperation of various interest groups, including representatives of the banking industry, retail, consumer protection and the Bundesbank, could lead to positive developments for the preservation of cash as a means of payment.

Overall, care must be taken to ensure that the availability and use of cash continues to be guaranteed in order to ensure consumers' financial participation and freedom of choice.