Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department is taking steps to help secure free access to cash withdrawals and deposit facilities in Meriden constituency.

The government recognises that while the transition towards digital payments brings many opportunities, cash continues to be used by many people across the UK, including those who may be in vulnerable groups.

The government is currently legislating to protect access to cash across the UK as part of the Financial Services and Markets (FSM) Bill 2022. The Bill establishes the Financial Conduct Authority (FCA) as the lead regulator for access to cash with responsibility and powers to seek to ensure reasonable provision of withdrawal and deposit facilities.

As amended, the FSM Bill protects free access to cash by requiring the FCA to seek to ensure that, in the United Kingdom, there is reasonable provision of free withdrawal and deposit facilities for personal current accounts with relevant providers. It also requires the Treasury to publish a policy statement that includes policies on free access.

According to LINK data for April 2023, there are around 39,000 free-to-use ATMs across the UK, including 81 in the constituency of Meriden.