Bodily banknotes and cash will be important for some individuals’s security and survival, a committee of MPs has heard.

The Treasury Committee was listening to from charities working with weak teams and organisations which promote monetary inclusion, as a part of an inquiry into bodily money acceptance.

Deidre Cartwright, public affairs and coverage supervisor at charity Surviving Financial Abuse, mentioned: “Victims and survivors of financial abuse and home abuse extra broadly are depending on money for his or her security and for his or her survival.

“And we all know this as a result of sufferer survivors’ entry to a checking account is managed and infrequently occasions entry to money is their solely means to truly accessing necessities for themselves and their youngsters.

“It’s a method for them to have the ability to escape an abuser, particularly when that abuser can observe them by way of a checking account, so it’s extremely vital for his or her security and survival.

“And I believe what individuals additionally don’t know is how vastly prevalent that is, it’s not only a small subset of people who find themselves affected by this.”

She mentioned not too long ago launched analysis by the charity indicated 4.1 million girls within the UK have skilled a accomplice or ex-partner controlling their entry to cash and financial assets “so this positively isn’t a small subject – many ladies want entry to money”.

Ms Cartwright later instructed the listening to that financial abuse perpetrators could limit entry to the identification that folks must open a checking account.

Chris Brooks, head of coverage at Age UK, instructed the listening to: “There are nonetheless a few million pensioners who don’t use the web in any respect, and plenty of extra who lack the talents to make use of it proficiently.

“And managing your cash on-line is basically difficult for lots of people.”

He additionally later highlighted the challenges individuals face round scams, in addition to cultural attitudes in direction of money, including: “Folks merely belief money, so it’s a matter of belief.”

Conor D’Arcy, deputy chief government of the Cash and Psychological Well being Coverage Institute, instructed the listening to: “I believe there’s nonetheless some work to be accomplished on understanding how psychological well being issues have an effect on us virtually, in order that’s issues like reminiscence, like making choices, like staying on prime of accounts and budgeting.”

He continued: “After we communicate to individuals with psychological well being issues, it’s usually for these very causes that folks actually depend on money usually.

“So it implies that it’s simpler to just be sure you don’t overspend, and for some circumstances particularly that’s actually vital, notably for individuals with bipolar, say, overspending is a giant danger.

“And we’ve heard some actually unhappy tales of how individuals have gone from having an honest pot of financial savings or being in monetary place to spending enormous quantities of cash in a really brief time.

“And whereas money isn’t the answer for each single drawback, it’s not that each single particular person with a psychological well being drawback depends on money, for some individuals it may be a extremely useful gizmo to assist them keep in management.”

The committee is exploring the obstacles some shoppers could face in the event that they depend on money to have the ability to entry sure providers.

Ron Delnevo, chairman on the Fee Alternative Alliance, instructed the listening to: “I do know some older buddies who’ve stopped going to sure locations… as a result of they couldn’t park with out having an app.

“They don’t have apps, they don’t have smartphones.

“So we’ve seen parking massively affected, we’ve seen on-train catering… we’ve seen universities, we’ve seen leisure amenities… theatres… and plenty of of those organisations are supported by the federal government or native authorities.”

He mentioned restrictions on money acceptance additionally have an effect on tourism, including: “How is that good for the repute of Britain, that money isn’t accepted?”

In 2023, laws was handed as half of the Monetary Companies and Markets Act to defend entry to money.