Payments News

Regulation

Banking Trade Body UK Finance Commits to Support Free Access to Cash

“And one of the first things it will need to do is define ‘appropriate’ free access to cash. UK Finance is building on the Access to Cash Review, chaired by Natalie Ceeney. The independent Access to Cash Review considers consumer requirements for cash over the next five to 15 years. Specifically, the review examines future trends in cash usage and ATM coverage. Last year, the number of ATMs worldwide fell for the first time, by 1% to around 3.2 million according to research from RBR. Notably, the number of UK ATMs is down by around 1,500 in the first half of 2019 to about 68,400. But cash remains the UK’s second most frequently used payment method despite the ongoing growth of card and mobile payments.”