Cash Dispensing: Fees and Charges

Treasury written question – answered on 15th September 2021.

Alert me about debates like this

Photo of Feryal Clark Feryal Clark Opposition Whip (Commons)

To ask the Chancellor of the Exchequer, what recent discussions he has had with the Financial Conduct Authority on free access to the UK cash network.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Government remains closely engaged with the Financial Conduct Authority (FCA) in developing its cash access proposals, including through the Joint Authorities Cash Strategy Group, which provides a forum for the public bodies to formally co-ordinate respective approaches to access to cash. The Group is chaired by HM Treasury and attended by the Bank of England, Payments Systems Regulator and the FCA.

The Government has published a consultation on proposals for protecting access to cash for the long term. The Government proposes that the FCA becomes the lead regulator for oversight of the retail cash system with responsibility for monitoring and enforcing cash access requirements. Under the proposals, the FCA would be responsible for ensuring that facilities provide reasonable access in order to qualify for meeting geographic requirements. The FCA would be expected to take into account factors that reflect existing standards of cash access, including the appropriateness of facilities for vulnerable users, such as costs for end users, security, hours of availability and accessibility.

The consultation is open until 23 September 2021 and is available at: https://www.gov.uk/government/consultations/access-to-cash-consultation

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.