Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she is taking with Cabinet colleagues to help ensure that people without access to digital payment options (a) can to pay for goods and services in their local communities in cash and (b) are supported to get online when they need to.

While the ongoing trend in payments in the UK has been away from cash and towards card and digital payment methods, 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 ensure cash continues to be a viable method of payment for the millions of people who depend on it by providing reasonable access to cash withdrawal and deposit facilities for personal accounts.

There is no legal requirement for businesses to accept specific forms of payment, and the Government has no plans to mandate cash acceptance. It is for each business to decide on the forms of payment it chooses to accept, based on a variety of factors, including cost and customer preferences. However, the FCA’s access to cash regime will ensure that businesses have reasonable access to cash deposit facilities, which supports their ability to accept cash.

More widely, the Government has committed to publish a National Financial Inclusion Strategy later this year to tackle a range of barriers individuals face in accessing the financial products they need, including a focus on access to banking and digital inclusion.