Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment she has made of the adequacy of the Financial Conduct Authority's regulatory regime entitled PS24/8: Access to cash.

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 individuals and businesses, including free services for personal accounts.

The FCA is required by law to keep its rules under review and, as part of the Government’s response to the Treasury Committee’s report into the acceptance of cash earlier this year, the FCA publicly committed to review its regime. The FCA has been closely monitoring the impact and effectiveness of their regime during its first year. It will commence a formal evaluation of its regime in due course and will write to the Treasury Committee shortly setting out its plans.