Cash Dispensing: Newcastle-under-Lyme

While the ongoing trend in payments in the UK has been away from cash and towards digital payment methods, the government recognises that cash continues to be used by millions of people across the UK, including those who may be in vulnerable groups.

For this reason, cash access has been protected in UK law. The Financial Services and Markets Act 2023 provides the Financial Conduct Authority (FCA) with responsibility and powers to seek to ensure reasonable provision of cash withdrawal and deposit facilities across the UK.

In July 2024, the FCA published its final rules setting out its approach to regulating access to cash, which come into force on 18 September. Under these rules, designated firms – which include the UK’s largest banks and building societies, as well as the ATM operator, LINK – will be required to conduct an assessment in response to a service closure or a cash access request from local residents, community organisations and representatives, and provide additional cash services if there is a need for it. LINK conducts these assessments of access to cash needs in communities and can recommend additional shared services, such as shared Banking Hubs or cash deposit services. Further information can be found via its website.