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<p>As technology and consumer behaviour changes, it should remain the choice of individual
organisations as to whether to accept or decline any form of payment, including cash
or card, based on their consideration of factors such as customer preference and cost.</p><p>
</p><p>Nonetheless, the Government recognises that many people continue to transact
in cash across the UK and engages closely with financial regulators to monitor and
assess trends relating to cash. Research undertaken by the Financial Conduct Authority
found that 98% of small businesses would never turn away a customer if they needed
to pay by cash.</p><p> </p><p>The Government has introduced legislation to protect
access to cash across the UK to Parliament as part of the Financial Services and Markets
Bill 2022. The legislation will establish the Financial Conduct Authority as the lead
regulator for access to cash with responsibility and powers to ensure that people
can continue to access cash withdrawal and deposit facilities. This legislation will
support local businesses to continue accepting cash by ensuring they have reasonable
access to deposit facilities.</p><p> </p><p>Further details about the Financial Services
and Markets Bill can be found on the Parliament website.</p>
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