FIN.

Access to Cash: Call for Evidence launched

HM Treasury today published a call for evidence setting out the Government’s legislative aims for protecting access to cash in the UK.

The paper sets out that the Government is aiming to maintain a sustainable infrastructure for cash in the UK to ensure financial inclusion for all.

Withdrawing Cash – the paper sets out the different ways that you can access cash in the UK such as cashback and ATMs and goes onto ask:

  • How the Government can ensure the UK maintains as appropriate network of cash withdrawal facilities over time through legislation?
  • What is the potential for cashback to play a greater role in the provision of cash withdrawal facilities and how can legislation facilitate adoption of cashback?

Cash deposit-taking facilities – the different ways that cash can be deposited is detailed in the paper followed by the question:

  • How can the government ensure the UK maintains an appropriate network of cash deposit-taking facilities over time through legislation?

Cash acceptance – the Government is looking at ways to incentivise cash acceptance.

  • What are the key factors and considerations for maintaining cash acceptance in the UK?

Regulatory oversight – at the moment, HM Treasury, BoE, FCA and PSR all have a role in regulating cash.  The Government asks:

  • Should the government give a single regulator overall statutory responsibility for maintaining a well-functioning retail cash distribution network? If so, with which regulator should this responsibility sit?

The call for evidence will close on 25 November and responses should be submitted to accesstocashcfe@hmtreasury.gov.uk

 

Emma Radmore