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<p>The Government recognises that cash is important to the daily lives of millions
of individuals and businesses across the UK, particularly to those who may be in vulnerable
groups. That is why the Government has committed to protecting access to cash for
those who need it and ensuring that the UK's cash infrastructure is sustainable for
the long term.</p><p> </p><p>The Government made legislative changes via the Financial
Services Act 2021 to support the widespread offering of cashback without a purchase,
which will allow shops and other businesses to offer a new form of cash withdrawal
service to local communities. The Government also recently closed an Access to Cash
Consultation on 23 September, setting out further proposals for new laws to make sure
people only need to travel a reasonable distance to pay in or take out cash.</p><p>
</p><p> </p><p>In September 2020, the FCA published guidance for regulated firms setting
out its expectations for banks, building societies and credit unions when they are
considering closing branches or ATMs. It requires them to notify customers and the
FCA of upcoming branch closures and consider the provision of alternatives for customers.</p><p>
</p><p>Banks themselves are best placed to make the commercial decisions required
to operate their businesses for their customers. However, the Government believes
that the impact of branch closures should be understood, considered, and mitigated
where possible so that all customers, wherever they live and especially the most vulnerable,
continue to have access to face-to-face banking services.</p>
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