Top Cash Stories of 2023: Part One
Jan 8, 2024
Today, we take a look back at some of the top stories between January and June 2023.
January: British Cash Use Rises as Budgets Tighten
Cash use in the UK rose for the first time in over a decade as more Brits discovered physical money could help them improve control of their finances, following an international trend of younger generations budgeting with cash.
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February: Kenyans Turn to Cash to Fight Cashless Fees
Kenyans chose to withdraw and spend cash in preference to using cashless options due to high transaction fees, with business owners calling on the government to revise charges and encourage greater payment choice.
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March: New Zealand Cyclone Highlights the Need for Cash
The Reserve Bank of New Zealand announced it was exploring new ways to strengthen access to cash in the wake of a devastating cyclone that left thousands without power or telecoms coverage, rendering cashless payments unusable for days.
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April: Tokyo Sets New Record for Lost Cash Handed in to Police
The honest citizens of cash-loving Japan’s capital set a new record in lost cash handed in to police, with almost ¥4 billion ($30 million or €28 million) reported in 2022. The National Police Agency suggested the amount indicated a ‘return to normality’ after almost two years of economic disruption.
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May: Public Pushback Forces Rethink of ATM Fees in Thailand
The Thai banking industry has been obliged to reconsider its approach to cash access following a public backlash against plans to introduce new ATM charges.
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June: Cash Drives India’s Economy Even as Banknotes Withdrawn
As India prepared to withdraw its highest-denomination banknote, cash continued to drive the nation’s economy, with ATM usage rising more than ten percent in a year and circulating currency at an all-time high.
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