Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will carry out regular assessments of (a) the adequacy of how the ATM network is funded and (b) the impact of the levels of funding of the ATM network on free access to cash.

The Government recognises that cash will remain an important part of daily life for millions of people across the UK for many more years.

Decisions regarding the operation and funding arrangements of the ATM network are taken by LINK (the scheme that runs the UK's largest ATM network). LINK has 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. LINK has committed to protect free-to-use ATMs more than one kilometre away from the next nearest free ATM or Post Office, and free access to cash on high streets (where there is a cluster of five or more retailers) that do not have a free-to-use ATM or a Post Office counter within one kilometre.

The Government has introduced legislation to protect access to cash as part of the Financial Services and Markets Bill. The Bill will establish the Financial Conduct Authority as the lead regulator for cash access and provide it with appropriate powers to seek to ensure reasonable provision of withdrawal and deposit facilities. The powers provided to the FCA will allow it to determine standards to ensure reasonable access, reflecting factors such as cost for end users.