Cash Dispensing

Treasury written question – answered on 17th November 2020.

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Photo of Lord Goodlad Lord Goodlad Conservative

To ask Her Majesty's Government what steps they are taking to ensure the future of cash machine networks in the UK.

Photo of Lord Agnew of Oulton Lord Agnew of Oulton Minister of State (HM Treasury), Minister of State (Cabinet Office)

The Government recognises that cash remains important to millions of people across the UK, which is why it has committed to legislate to protect access to cash and to ensure that the UK’s cash infrastructure is sustainable in the long term.

To inform the development of this legislation, the Government published a Call for Evidence on 15 October seeking views on the key considerations associated with cash access, including deposit and withdrawal facilities, cash acceptance, and regulatory oversight of the cash system.

Alongside the development of legislation, LINK, the scheme that runs the UK’s largest ATM network, has existing arrangements in place to protect free-to-use ATMs that do not have another free-to-use ATM or Post Office within 1 kilometre. LINK’s members have also made £5 million available to fund ATMs at the request of communities with poor access to cash. The Government established the Payment Systems Regulator, which has powers to regulate LINK, the scheme that runs the UK’s largest ATM network. The Payment Systems Regulator is holding LINK to account over their commitments to protect the broad geographic spread of free-to-use ATMs.

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