The Government is committed to legislating to protect access to cash and ensuring that the UK’s cash infrastructure is sustainable in the longer term.
On 1 July, the Government published a consultation on access to cash, setting out proposals for new laws to make sure people only need to travel reasonable distances to pay in or take out cash.
These measures build on legislative changes by the government to support the widespread offering of cashback without a purchase by shops and other businesses made as part of the Financial Services Act 2021. The financial services industry is already seeking to take advantage of these changes to the benefit of cash users; working with retailers to get this service rolled out to local communities.
The Government also supports industry initiatives to provide access to cash, such as measures in place to protect the availability of free-to-use ATMs, and continues to be fully supportive of the Post Office Banking Framework Agreement, which allows 95% of business and 99% of personal banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches.