Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she is taking to help ensure access to cash in Ashfield constituency.

The Government recognises that cash continues to be used by millions of people across the UK, including those in vulnerable groups, and is committed to protecting access to cash for individuals and businesses.

The Financial Conduct Authority (FCA) assumed regulatory responsibility for access to cash in September 2024. Its rules require the reasonable provision of free cash withdrawal and deposit facilities for personal current accounts.  Data from LINK (the operator of the UK’s largest ATM network) identifies 66 ATMs in Ashfield, including 47 free-to-use ATMs. The UK’s largest banks and building societies are required to assess the impact of a closure or material alteration of a relevant cash withdrawal or deposit facility and put in place a new service if necessary.

Assessments are undertaken by LINK, the industry designated coordinating body responsible for conducting cash access assessments. LINK take into account a number of factors including those unique to each location, such as the size and vulnerability of the population and whether it is reasonable for people to travel to nearby facilities, factoring in geographic barriers such as hills, rivers and major roads.

Where a resident, community organisation or other interested party feels access to cash in their community is insufficient, they can submit a request for a cash access assessment. Further information about submitting a cash access request can be found on LINK’s website.

The Government is also working closely with industry to roll out 350 banking hubs across the UK by the end of this Parliament. These hubs will provide small businesses and individuals with critical cash and in-person banking services.  Over 225 banking hubs have been recommended to date and over 150 are already open.