Baroness McIntosh of Pickering
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UK Cash Network
Baroness McIntosh of Pickering Excerpts(3 years ago)
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Lord Agnew of Oulton (Con)
My Lords, as part of the FCA’s role in monitoring and enforcing cash access, the Government consider that it should be given responsibility for ensuring that access points provide reasonable access. In terms of recent activity, since the passing of the Financial Services Act, retailers now have the ability to offer cashback without purchase—I think it was from 29 June—and we are already seeing some take-up of that. Indeed, PayPoint, which operates terminals in several thousand outlets across the country, has committed to provide that extension to its service.
Baroness McIntosh of Pickering (Con)
Will my noble friend give an assurance that there will continue to be access to cash in rural areas? Could he please define what, in his view, is a reasonable distance to travel to pay in or take out cash?
Lord Agnew of Oulton (Con)
My Lords, to reassure the noble Baroness, the provision of cash access across the UK remains extensive. As of March this year, 95% of the population were within two kilometres of a free cash withdrawal point.