Declining number of cash machines in Derbyshire sparks fears for the elderly and vulnerable

This is the finding from The Grade, an organisation offering financial services’ reviews, which highlights Derbyshire is one of the most affected areas across the country.

One of the worst ‘cash deserts’ is Derby North, which has seen a 33 per cent decrease in the number of ATMs since 2018 leaving just 3.9 free-to-use ATMs per 10,000 people.

North East Derbyshire has faced a drop of 23 per cent with just three ATMS per 10,000 people, while South Derbyshire has been even more affected with 28 per cent decrease in the number of machines, leaving only 2.7 free ATMs per 10,000 residents. It means that both areas have only 0,1 cash machines per square kilometre.

Chesterfield has seen a drop of 16 per cent while Bolsover has faced a 29 per cent decrease and Erewash 30 per cent. Derbyshire Dales has been left with only 3.7 free cash machines per 10 000 residents and High Peak with 4.4.

The Bank of Engalnd found in it’s recent report that ‘cash continues to be an important form of money for many as one in five people consider it to be their preferred payment method and 1.1 million people rely on it for their everyday spending. Cash remains a valued form of money for the elderly and those on lower incomes, with many using it to budget and manage their household finances.’

Nicholas Barber, a spokesman for the Grade said: "As cash deserts spring up across Derbyshire we are sleepwalking into an access to cash crisis. The elderly and vulnerable are often reliant on cash while the cost of living crisis means many find it simpler to monitor and control their budgets by dealing in notes and coins. Increasingly, these people are left without cash options."

This is of particular importance to Derbyshire, as our county has a higher proportion of pensioners, who often rely on cash, with Derbyshire Dales facing a pensioner rate 48 per cent above the national average, Chesterfiled 16,19 per cent over it and Amber Valley 17.92 per cent. Overall North East Derbyshire exceeds the average by 33.77 per cent and Mid Derbyshire by 30.01 per cent.

Grade created an interactive map based on the House of Commons Library and ONS data, after The Post Office reported that it handled £3.45 billion in cash across its counters in August – the highest since its records began.