HM Treasury today published a call for evidence setting out the Government’s legislative aims for protecting access to cash in the UK.
The paper sets out that the Government is aiming to maintain a sustainable infrastructure for cash in the UK to ensure financial inclusion for all.
Withdrawing Cash – the paper sets out the different ways that you can access cash in the UK such as cashback and ATMs and goes onto ask:
- How the Government can ensure the UK maintains as appropriate network of cash withdrawal facilities over time through legislation?
- What is the potential for cashback to play a greater role in the provision of cash withdrawal facilities and how can legislation facilitate adoption of cashback?
Cash deposit-taking facilities – the different ways that cash can be deposited is detailed in the paper followed by the question:
- How can the government ensure the UK maintains an appropriate network of cash deposit-taking facilities over time through legislation?
Cash acceptance – the Government is looking at ways to incentivise cash acceptance.
- What are the key factors and considerations for maintaining cash acceptance in the UK?
Regulatory oversight – at the moment, HM Treasury, BoE, FCA and PSR all have a role in regulating cash. The Government asks:
- Should the government give a single regulator overall statutory responsibility for maintaining a well-functioning retail cash distribution network? If so, with which regulator should this responsibility sit?
The call for evidence will close on 25 November and responses should be submitted to accesstocashcfe@hmtreasury.gov.uk