Which? wins campaign to protect free access to cash
A Bill amendment will ensure consumers can withdraw and deposit cash for free.
In a huge win for consumers, the government has unveiled new measures to protect free access to cash.
Following the success of our longstanding Freedom to Pay campaign, the Financial Services and Markets Bill was introduced to Parliament last year. This is a crucial new law that will protect access to cash. Ever since then, we’ve been keeping up the pressure behind the scenes to make sure the government delivered on its promises.
As part of this Bill, the Financial Conduct Authority will be given the power to stop banks and building societies from closing cash access services, such as ATMs, if there are no suitable alternatives within a reasonable distance. And now crucially, thanks to our efforts, the Bill will also guarantee consumers can withdraw and deposit their cash for free.
Cash is hugely important for millions of consumers and communities, and with the support of people like you, we’ve been fighting hard for many years to make sure those who are not yet ready or able to make the switch to digital payments don’t get left behind.