Protecting access to cash when the nature of cash use and everyday banking is changing

As technology evolves it is important to maintain good access to cash, particularly for those consumers who are cash reliant and vulnerable.

The Government announced last year, its intention to legislate in order to maintain access to cash and today's joint statement from the FCA and PSR sets out expectations of firms, making it clear that the regulators expect firms and the industry to play their part in protecting the ability of people to access cash and wider banking services. Individual firms are responsible for making sure that when they close a branch or an ATM in a local area, there are alternatives available to meet the customers needs, taking into account ability to withdraw and deposit cash, safety, accessibility and opening times.