Final recommendations from the Access to Cash Review published
Industry News | 07/03/19
The Access to Cash Review has published its final recommendations calling on the Government, regulators and banks to act now or risk leaving millions behind. The review concludes that digital payments don’t yet work for everyone and around eight million adults (17% of the population) would struggle to cope in a cashless society. The review recommendations include (i) a call for Government and regulators to step in urgently to ensure cash remains viable; (ii) a “Guarantee to Cash Access” for all, including those in remote and rural areas; (iii) a recommendation that those providing essential services be required to allow consumers to pay by cash; and (iv) a more efficient, effective and resilient wholesale cash infrastructure to ensure that cash remains viable as its use declines.