The House of Commons library has published a report that gives an overview of the policy relating to closure of bank and building society branches and initiatives to protect access to cash. The report includes:
- how people get cash;
- statistics on the declining use of cash, closure of bank branches and ATMs and who suffers most from the closures; and
- regulatory and other initiatives to maintain cash and bank service access and FCA expectations.
It also notes outstanding issues, such as the consequences of FSMA 2023 not covering the maintenance of wider banking services, and the debate around whether retailers should be required to accept cash.