Bank of England’s chief cashier says she doesn’t trust contactless cards
VICTORIA Cleland, chief cashier for The Bank of England, says that she "Doesn't really use contactless".
As chief cashier Victoria's signature is printed on every bank note, so maybe it's not that shocking that she prefers paper over plastic.
In an Victoria said: “I personally don’t really use contactless."
"To be blunt, it wasn’t on my card for a long time and so I’ve just got into the habit of preferring not to."
"And I do hear stories of friends – this is a personal anecdote, this isn’t the official Bank view – whose money has been taken off contactless when you walk past something. And it’s only up to £30."
Banks have said recently that they can't stop a stolen contactless card from being used for an offline payment.
Though they did say that this loophole is close to being closed.
Cash is now no longer taken out of a customers account if the contactless card is used after it has been reported stolen.
Victoria has good reasons to stick to her guns with cash.
Since the much harder to counterfeit polymer £5 note has been introduced in there have been no incidences of forgery.
The new fivers which feature a picture of Winston Churchill also last longer and are cheaper to print.
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Victoria also said that using cash made saving money easier.
“Some people use it as a budgeting tool. Cash can be eked out if you are on a budget.
"Some people are worried by cybercrime and the idea that Big Brother is watching you."
"When you spend £10 in cash you know the transaction is complete, it is not going to get lost somewhere in the system.”
The next note to become only available in it's polymer form is the £10.
From March 1st the old paper tenners will not be legal tender.
You can still use your old £10 notes up to that date and after March 1st passes you can exchange the notes at a bank, building society or post office.
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