Overview

• 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.