Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment his Department has made of the adequacy of the availability of cash withdrawal facilities throughout the Nottingham East constituency.

The government recognises that while the transition towards digital payments brings many opportunities, cash continues to be used by many people across the UK, including those who may be in vulnerable groups.

The government is currently legislating to protect access to cash across the UK as part of the Financial Services and Markets Bill 2022. The Bill establishes the Financial Conduct Authority (FCA) as the lead regulator for access to cash with responsibility and powers to seek to ensure reasonable provision of withdrawal and deposit facilities. In recognition of the important role of cash for individuals, the government has tabled an amendment to the Bill that will require the FCA to seek to ensure that there is reasonable provision of free withdrawal and deposit facilities for holders of personal accounts.

The ATM network also plays a critical role in the availability of cash withdrawal facilities. LINK (the scheme that runs the UK's largest ATM network) has made commitments to protect the broad geographic spread of free-to-use ATMs and is held to account against these commitments by the Payment Systems Regulator. According to LINK data for March 2023, there were around 39,000 free-to-use ATMs across the UK, including 53 free-to-use ATMs in the constituency of Nottingham East. Further information is available at: https://www.link.co.uk/initiatives/financial-inclusion-monthly-report/