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<p>The Government believes that all customers, wherever they live, should have appropriate
access to banking services.</p><p> </p><p>As part of the Financial Services and Markets
Bill 2022, the Government has introduced legislation to protect access to cash. The
Bill protects access to cash by establishing the Financial Conduct Authority as the
lead regulator and providing it with appropriate powers to ensure reasonable provision
of withdrawal and deposit facilities.</p><p> </p><p>More broadly against the background
of changing technology, decisions on opening and closing branches are a commercial
decision for banks and building societies. However, the Government recognises that
in-person access to banking services continues to be important for some customers.
FCA Guidance is clear that firms are expected to carefully consider the impact of
planned branch closures on their customers’ everyday banking and cash access needs
and consider possible alternative access arrangements.</p><p> </p><p>For consumers
and SMEs wishing to access over-the-counter services, the Post Office Banking Framework
allows 99% of personal banking and 95% of business banking customers to carry out
their everyday banking at 11,500 Post Office branches in the UK.</p><p> </p><p>Firms
are also working together through the Cash Action Group to develop new initiatives
to provide shared services including Bank Hubs. The Government welcomes the direction
set by industry’s commitments and looks forward to seeing what results they deliver
in protecting facilities for local communities across the UK.</p>
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