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<p>The government recognises that while the transition towards digital payments brings
many opportunities, cash continues to be used by many people across the UK, including
those who may be 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.
The government considers that this legislation will also support organisations, including
local businesses, to continue accepting cash by ensuring that they have reasonable
access to cash deposit facilities.</p><p> </p><p>Following this, the government recently
published a Cash Access Policy Statement, which sets out the government’s policies
on access to cash. The FCA is required by law to have regard to these policies when
determining its regulatory approach. The FCA will publicly consult on its regulatory
approach in due course. The government’s policy statement is available on gov.uk:
<a href="https://www.gov.uk/government/publications/cash-access-policy-statement/cash-access-policy-statement"
target="_blank">https://www.gov.uk/government/publications/cash-access-policy-statement/cash-access-policy-statement</a></p>
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