The Woods Cafe, located within the Cardinham Woods forestry area, has said that the costs incurred in keeping and processing cash payments means that it is actually more viable to go card only.
The cafe’s operators have said that while they would like to continue handling cash, with the mass withdrawal of banks in recent years, it is not only more expensive to deposit cash, it is more difficult to do so.
It comes after the sister bakery to that of the cafe recently was broken into with cash stolen, with the owners of the business stating that it was one of several reasons why it would be withdrawing accepting cash in its cafes.
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They added that it is due to a combination of bank charges, costs of withdrawing cash and lack of cash being kept in branches in addition to the recent break-in.
A spokesperson for the cafe said: “From March 1, we will no longer be accepting cash payments. This decision has not been made lightly but unfortunately with the rise in bank charges, costs of withdrawing cash, lack of cash being kept in branches and the fact our sister bakery was broken into it really hasn’t left us much choice.
“We hope you can all understand our decision and we apologise for any inconvenience this may cause.”
The spokesperson clarified: “The cash costs have gone up now all our Lloyds Bank branches around us are closed. It used to cost us 0.8 per cent and has now nearly doubled to 1.5 per cent since we have to pay cash into the Post Office.”