FCA has published its finalised guidance on what firms should do if considering closing branches or ATMs, or starting to charge for ATM use. The guidance makes it clear firms must keep FCA informed of any relevant plans in good time before they make a final decision. FCA will want to see a clear summary of the analysis firms have done on the needs of the customers who will be affected, the impact of the changes on them, and what alternatives could be available to those customers. Firms will also need to give customers at least 12 weeks notice of any closures or changes, and the alternatives open to them.
The guidance takes effect from 21 September.