Post-meeting update
At today’s Cash Summit we were delighted to hear Economic Secretary to the Treasury John Glen confirm that a consultation on cash legislation will be launched in the Summer. This is an extremely positive development towards getting these critical long term protections introduced.
The government must deliver at pace on it’s promises, or risk leaving the cash system vulnerable to further damage.
We also heard about UK Finance’s commitment to protecting access to cash, and the launch of its new Cash Action Group, which will be led by Access to Cash Review Chair, Natalie Ceeney, in addition to renewed commitments from the Post Office and major banks to supporting the provision of cash access for consumers.
Protecting Access To Cash And Banking Services - Speech By Sheldon Mills, UK Financial Conduct Authority, Executive Director, Consumers And Competition, Delivered At Which? Cash Summit 2.0 â Cash Access And Acceptance Date
Event: Which? Cash Summit 2.0 – Cash access and acceptance
Delivered: 13 May 2021
Highlights
Based on our evidence, we believe that access to cash across the UK is generally good for most people. However, as the future of cash and branch banking evolves, government, regulators and industry need to play their part in maintaining good access.
The Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) are committed to protecting access to cash, particularly for cash reliant vulnerable consumers.