NFRN responses to Treasury’s call for evidence on access to cash

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The NFRN has called on the government to ensure free access to cash for everyone, despite a continued increase in the use of other payment methods.

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In response to the Treasury’s call for evidence on the subject of access to cash – including ATMs and the possibility of introducing cashback without purchase in stores – the NFRN urged the government to ensure free ATMs are readily available in rural as well as urban areas. It added that providing no purchase cashback would have to be made viable for store owners through new legislation.

NFRN national president, Stuart Reddish, said: “It is important that the regulators have sufficient powers to ensure community interest is a major factor in the maintaining of the ATM network, even with ATMs that have low usage. It remains important to customers, particularly the more vulnerable, that they can have free access to their cash without having to travel large distances.

“For cashback without purchase to become a viable option for retailers, there needs to be change in the legislative framework governing payment services.

“Independent retailers are focused on serving their local communities. As such, they will want to continue accepting cash for as long as their customers wish to continue paying with it.”

In the March 2020 Budget, the chancellor announced that “government will bring forward legislation to protect access to cash and ensure that the UK’s cash infrastructure is sustainable in the long term”.