Cash Dispensing

Treasury written question – answered on 26th September 2022.

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Photo of Imran Hussain Imran Hussain Shadow Minister (Future of Work)

To ask the Chancellor of the Exchequer, when the Government plans to bring forward legislation setting geographic requirements to ensure the provision of withdrawal and deposit facilities to meet cash needs.

Photo of Andrew Griffith Andrew Griffith The Financial Secretary to the Treasury

The Government has introduced legislation to protect access to cash through Clause 47 and Schedule 8 of the Financial Services and Markets Bill. The Bill intends to establish the Financial Conduct Authority as the lead regulator for cash access and provide it with appropriate powers to seek to ensure reasonable provision of withdrawal and deposit facilities.

The Bill enables HM Treasury to set out the Government’s policy on cash access in respect of cash withdrawal and deposit services, and for urban and rural areas. The FCA will be required to have regard to this in carrying out its responsibilities under the legislation. The Government will set out further details in due course.

Further details about the Financial Services and Markets Bill can be found on the Parliament website: https://bills.parliament.uk/bills/3326

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