Access to Cash Debate
Full Debate: Read Full DebateDepartment: Department for International Development
Baroness Kramer
Main Page: Baroness Kramer (Liberal Democrat - Life peer)Department Debates - View all Baroness Kramer's debates with the Department for International Development
(5 years ago)
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Lord Bates
I am happy to undertake to take that up with the Economic Secretary to the Treasury, who is responsible for retail banking, as well as the Financial Conduct Authority. I know that significant progress has been made on that, and I will write to the noble Lord.
Baroness Kramer (LD)
My Lords, nearly 40% of payments are still in cash. Does the Minister recognise that although the payments regulator cites post offices as places where one can get cash, they tend to close at 4 pm or 5 pm? People need access, and 1 kilometre is far too far away to keep any local community functional in the way that it needs to be.
Lord Bates
There are limitations that arise from the changes in the way that people access their financial services and cash. We are seeing contactless overtaking debit cards as a way of payment. These changes are happening, but it is important that the regulator and the Government work together with the industry to ensure that people continue to have the access they need to these important cash services.