Financial Conduct Authority confirms plan to protect access to cash for consumers and small businesses

Under new Financial Conduct Authority (FCA) regulations, banks and building societies must assess whether local communities lack access to cash services, such as branches and ATMs, and plug any significant gaps.

From 18 September, banks and building societies will need to:

• assess cash access and understand if additional services are needed, when changes are being made to local services  

• respond to local residents, community organisations and representative groups, who will be able to request an assessment of whether there are gaps in local cash access

• deliver reasonable additional cash services, where significant gaps are found

• keep facilities, including bank branches and ATMs, open until any additional cash services identified are available

You can read more on this from the FCA here.