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<p>The government recognises that cash continues to be used by millions of people
across the UK, including by those in vulnerable groups.</p><p> </p><p>The government
legislated through the Financial Services and Markets Act 2023 to establish a new
legislative framework to protect access to cash. This establishes the Financial Conduct
Authority (FCA) as the lead regulator for access to cash and provides it with responsibility
and powers to seek to ensure reasonable provision of cash withdrawal and deposit facilities,
on both a national and local basis. The FCA expects to finalise its regulatory rules
in the third quarter of this year.</p><p> </p><p>The most recent analysis undertaken
by the FCA on cash access coverage across the UK found that in Q1 2023, over 99% of
people in urban areas are within 1 mile of a cash access point offering withdrawals,
and over 98% of people in rural areas are within 3 miles of a cash access point offering
withdrawals. Further details of this analysis, including a breakdown of cash access
coverage by Local Authority District is available on the FCA website: <a href="https://www.fca.org.uk/data/access-cash-coverage-uk-2023-q1#:~:text=97.4%25%20of%20the%20UK%20urban,cash%20access%20point%20offering%20deposits"
target="_blank">Access to cash coverage in the UK 2023 Q1</a></p><p> </p>
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