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If you go shopping on a semi-regular basis, you’ve probably seen at least a few signs proclaiming “CASH IS KING”. The argument for pledging fealty usually goes like this: cash allows independent businesses to keep more of the money they make, prevents your money from being closely tracked, and makes shopping more accessible for people who cannot easily get a bank account.
On the other hand, cards act as a rival to the throne. Firstly, they’re considered more convenient: you don’t need to visit cashpoints or count out coins, you just need to swipe. And during the covid-19 pandemic, card was held up as a more hygienic way of shopping: imagine how many hands your fiver passed through before it landed in yours!
While more than 85% of transactions in 2023 were by card, cash has become something of a dark horse, with the Retail Consortium revealing its usage is rising year on year. So, which really gives you more bang for your buck? We asked businesses across Bath to see what they think.
Ron and Cynthia run a resplendent antiques shop just a short stroll from The Royal Crescent called Beau Nash. Their shop is full of silverware glistening in the spring sunlight. You can use cash or card at Beau Nash, but really, Ron prefers cash: “In my opinion, the younger generation will go on to regret that they prefer the convenience of cards.
“With so many shops now only taking cards…Does it discriminate against those who are unable to have a card?”.
(Image: Phoebe Hobbs)
I try to imagine this hypothetical person without a debit card. The very old. The very young. Homeless people. Victims of domestic abuse who might not be allowed control of their own finances. And while overseas tourists almost certainly will have their own cards, the fees for using them abroad are so extortionate that it’d be silly for them not to pay in cash.
Meanwhile, I was once reliant on cash for a week after losing my debit card and waiting for the lovely people at the bank to supply a new one. Apparently I’m not alone: according to IFA Magazine, there were over 400,000 (401,343) lost or stolen bank cards reported nationally in 2022. Assuming nobody was daft enough to lose their card twice, that’s enough momentarily card-less people to cover the population of Bath four times over.
Jack, 30, works for Uber Clothing in the charming Margaret Buildings. As an employee, he’s keen to stress he doesn’t necessarily represent the views of the whole company, but shares Ron’s appreciation of cash: “I think people prefer cash because it’s money you can actually control.”
With fluctuating stock markets and Trump more or less tearing up the Special Relationship with his recent tariffs, it’s easy to see what he’s means. On the phone the other day, my dad joked that he wishes he kept some money under his mattress for times like this.
Jack went on to muse: “We don’t really own anything […] The only thing that’s really ours is cold, harsh cash.” His words summon images of the shift from DVDs to streaming services where films are scrubbed from the catalogue every day, from video game discs to online games where companies could pull the plug at any minute. Perhaps there’s something comforting about money in your hand, money that’s really yours.
John, who works for the delightful Fat Giraffe Gifts, has more practical concerns. He recalls that during the Christmas Market last year, card transactions sometimes declined because of poor signal: “Bath has terrible internet”.
Ultimately, he thinks it’s good to have a bit of both cash and card. Certainly, more cash in circulation would have come in handy at the markets.
Not everyone agrees that cash is king. Vishal, owner of eco-friendly fashion boutique Humanity Centred Designs, prefers card: “I have multiple stores so it helps with the transactions”.
And whatever shopkeepers think, the consumer seems to enjoy packing plastic. Matilda, 20, works at Persephone Books alongside her university studies. The unique bookshop, which publishes underrated novels from forgotten female authors with sleek grey covers, is a massive hit with tourists. As I walk in, I overhear a staff member talking with an American lady who says she travelled to Bath just to visit their shop.
Matilda thinks that around 80% of their customers use card, an estimate more-or-less in line with what the Retail Consortium say. So is cash still king? Many shopkeepers say yes, but perhaps the average consumer sees a hollow crown.
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