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I suspect that this report takes no account of human nature. It is assuming that all technology introduced by banks will be acceptable to customers. People have a terrible tendency not to perform as expected. In the event that such technology is introduced over a period of time, who needs banks. There is already talks of the large technology companies entering the banking market. Those people who love technology will almost certainly be more loyal to Amazon & Facebook that the big banks. To me, if the banks follow this route they are commiting genocide.

I stuck with CIS (Co-operative Insurance Services) for more than 20 years when insuring my house and contents. The last quote three years ago being UKP 3,300 (I live in a large house). I got four quotes from well known and reputable companies, all of whom quoted less than UKP 800. I was simply amazed. When I corresponded with one of the directors, they were simply disinterested. They offered no explanation nor made any attempt to keep my business. As a result, I tell anyone and everyone what a callous and uncaring organisation that they are.

There are people, like me, who seriously hate proximity marketing. I do not want unwanted ads appearing on my mobile phone, so I mentally record who sends them and refuse to do business with the company. It is interesting that you quote an example in the US, not the UK. US citizens are used to being bombarded by ads (US TV allows 14 minutes of advertising per hour compared to 8 minutes in the UK). Brits do not take to ads in the same way.

International debit cards have been available in Europe for 15 years or more.

Excellent analysis. As someone who was part of a start up in the 70s, when start-ups were almost unknown, we had cheap premises and average salaries and were always a little short of money, but we had a great product and we took it to market around the world and eventually sold the business for a nine figure sum.

Have not seen in a cheque in our business in the UK in more than 10 years. Electronic payments have been in place for more than 20 years.

Maybe in Belgium the spread is only 2%. In the UK interest rates on mortgages are typically 5%, on personal loans typically 10% and on credit cards typically 20%. Interest rates paid to individuals is 1%.

When the banks start to pay a decent rate of inerest on the money held by them on behalf of their clients, I will be happy to pay for cash withdrawal. Please do not say that low base rates preclude paying interest. Banks charge high interest rates on loans, credit cards and mortgages. It is these fees that should be covering their costs, not cash withdrawal fees.

Cash seems to work virtually anywhere too and does not need an internet or telephone connection.

There seems to be a lack of understanding by both government and the banks regarding money. The money in a bank account is owned by the individual or business. In return for looking after this money, the banks get to enjoy the use of it and are able to lend it at substantial mark up over the rate of interest (if any) paid to the individual or company.

It is unreasonable for the bank to either make it difficult to withdraw your own money, or charge a fee for withdrawal.

However, both of these scenarios are now happening. By significantly reducing the number of branches and ATM's the banks are trying to force people to use debit cards which, of course, incur fees to the banks.

Given such poor interest rates, time to start stashing large amounts of cash under the bed, or somewhere similar. At least you then have unlimited access.