Access to cash consultation
Industry News | 06/07/21
HM Treasury launched a consultation on access to cash. This consultation is the next step in legislating to protect access to cash and ensuring that the UK’s cash infrastructure is sustainable for the long term.
The consultation sets out proposals for legislation to ensure that people and businesses can continue to make cash withdrawals and deposits within a reasonable distance. This will help to ensure that the cash system continues to meet the needs of businesses and consumers and that the UK’s cash infrastructure is sustainable in the long-term. The consultation seeks views in three key areas:
1) Geographic access requirements for providing access to cash withdrawals and deposits.
2) Designation of firms to meet requirements to provide access.
3) Regulatory oversight, including proposals to ensure the FCA has appropriate powers and responsibilities to hold firms to account to meet requirements.
The deadline for responses is 23rd September 2021.