May 19, 2022, 7:01 AM
The UK’s market regulator is being given powers to ensure the largest banks and building societies maintain cash withdrawal and deposit facilities across the country.
The Financial Conduct Authority will be instructed in the upcoming Financial Services and Markets Bill to make sure lenders keep providing withdrawal and deposit facilities in local communities, according to a statement from the UK Treasury. The government will shortly set out its expectations for a reasonable distance for people to travel when depositing and withdrawing cash.
Cash is the second-most frequently used method of payment in the UK, and about 5.4 million adults rely …