New FCA Rules Mandate Banks to Secure Cash Access

From September, banks must address cash access gaps and maintain services until alternatives are available.

The Financial Conduct Authority (FCA) will enforce new rules from September 18, requiring banks to ensure cash access in local communities.
Banks must keep branches or ATMs open until replacements are operational, with potential fines for non-compliance.
The rules aim to support vulnerable populations and small businesses that rely on cash transactions.
Despite a shift towards digital payments, three million people in the UK still depend on cash for daily transactions.
The FCA's measures include the establishment of banking hubs and enhanced Post Office services to fill gaps left by branch closures.