In recognition that cash continues to be used by millions of people across the UK, including those in vulnerable circumstances, 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.<\/p>
<\/strong><\/p> Following this legislation, the government published a Cash Access Policy Statement. This set out that the vast majority of people should be no further than 1 mile from access to cash deposit and withdrawal services in predominately urban areas, and no further than 3 miles in predominately rural areas. The FCA is required to have regard to this statement when exercising its access to cash powers.<\/p> <\/p> The government believes it should remain the choice of individual businesses 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. However, the government considers that its legislation will indirectly support cash acceptance in the wider economy, enabling businesses to continue accepting cash by ensuring they have reasonable access to deposit facilities.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4580", "label" : {"_value" : "Biography information for Baroness Vere of Norbiton"}
}
, "answeringMemberPrinted" : {"_value" : "Baroness Vere of Norbiton"}
, "dateOfAnswer" : {"_value" : "2024-05-24", "_datatype" : "dateTime"}
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, "questionFirstAnswered" : [{"_value" : "2024-05-24T09:10:38.097Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2024-05-15", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Money"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
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], "questionText" : "To ask His Majesty's Government what steps they are taking to protect the use of cash in the purchasing of everyday goods and services.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4308", "label" : {"_value" : "Biography information for The Lord Bishop of St Albans"}
}
, "tablingMemberPrinted" : [{"_value" : "The Lord Bishop of St Albans"}
], "uin" : "HL4706"}
, {"_about" : "http://data.parliament.uk/resources/1716972", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1716972/answer", "answerText" : {"_value" : " The forms of payment that are accepted should remain the choice of individual businesses , based on their consideration of factors such as customer preference and cost.<\/p> Nevertheless, the Government recognises that cash continues to be used by millions of people across the UK. The Financial Services and Markets Act 2023 established a new legislative framework to protect access to cash for consumers and businesses.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4407", "label" : {"_value" : "Biography information for Nigel Huddleston"}
}
, "answeringMemberConstituency" : {"_value" : "Mid Worcestershire"}
, "answeringMemberPrinted" : {"_value" : "Nigel Huddleston"}
, "dateOfAnswer" : {"_value" : "2024-05-17", "_datatype" : "dateTime"}
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, "questionFirstAnswered" : [{"_value" : "2024-05-17T12:27:02.97Z", "_datatype" : "dateTime"}
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, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2024-05-09", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Money"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
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], "questionText" : "To ask the Chancellor of the Exchequer, whether he plans to bring forward legislative proposals to reinforce the status of cash as legal tender.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4638", "label" : {"_value" : "Biography information for Mr Tanmanjeet Singh Dhesi"}
}
, "tablingMemberConstituency" : {"_value" : "Slough"}
, "tablingMemberPrinted" : [{"_value" : "Mr Tanmanjeet Singh Dhesi"}
], "uin" : "25536"}
, {"_about" : "http://data.parliament.uk/resources/1656876", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1656876/answer", "answerText" : {"_value" : " The government recognises that, to support people\u2019s ability to continue to transact using cash, businesses need reasonable access to cash deposit facilities to support them to keep accepting cash.<\/p> The government legislated through the Financial Services and Markets Act 2023 to establish the Financial Conduct Authority as the lead regulator for access to cash and provide it with responsibility and powers to seek to ensure reasonable provision of cash withdrawal and deposit facilities. The government considers that this legislation will support organisations, including local businesses, to continue accepting cash by ensuring that they have reasonable access to cash deposit facilities.<\/p> <\/p> Following this, the government recently published a Cash Access Policy Statement, which sets out the government\u2019s 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\u2019s policy statement is available on gov.uk: https://www.gov.uk/government/publications/cash-access-policy-statement/cash-access-policy-statement<\/a><\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4874", "label" : {"_value" : "Biography information for Andrew Griffith"}
}
, "answeringMemberConstituency" : {"_value" : "Arundel and South Downs"}
, "answeringMemberPrinted" : {"_value" : "Andrew Griffith"}
, "dateOfAnswer" : {"_value" : "2023-09-11", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-09-11T14:58:48.407Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-09-01", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Money"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
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], "questionText" : "To ask the Chancellor of the Exchequer, what steps his Department is taking to help ensure the continued acceptance of cash as a payment option within the UK.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4815", "label" : {"_value" : "Biography information for Mark Logan"}
}
, "tablingMemberConstituency" : {"_value" : "Bolton North East"}
, "tablingMemberPrinted" : [{"_value" : "Mark Logan"}
], "uin" : "197199"}
, {"_about" : "http://data.parliament.uk/resources/1657252", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1657252/answer", "answerText" : {"_value" : " 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> 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 support organisations, including local businesses, to continue accepting cash by ensuring that they have reasonable access to cash deposit facilities.<\/p> <\/p>