The Financial Conduct Authority (FCA) has confirmed it will begin a formal review of the access to cash regime in late 2026, roughly two years after the rules took effect. The review will assess how the policy is operating and its success in preventing significant gaps in cash access for consumers and businesses across the UK.
The FCA’s access to cash regime was introduced to maintain reasonable provision of cash access services, with its rules becoming effective in September 2024. The regulations apply to 14 banks and building societies designated by the Treasury, with the ATM networks scheme operator LINK designated as scheme operator.
Four key requirements under the rules
Under the rules, banks and building societies are required to do four things: assess cash access and understand if additional services are needed when changes are being made to local services; respond to local residents, community organisations and representative groups who request an assessment of gaps in local cash access; deliver reasonable additional cash services where significant gaps are found; and keep facilities including bank branches and ATMs open until any additional cash services identified are available.
The rules aim to reasonably address the local cash needs of consumers and businesses, including ensuring businesses have reasonable access to deposit facilities and can obtain different denominations of cash to provide change for customers. This can help ensure retailers who wish to accept cash remain able to deposit and withdraw cash using nearby services.
Review timeline and scope
The FCA anticipates commencing the review towards the end of 2026, believing this is sufficient time for the impacts of the policy to materialise. The review will contain both a qualitative and quantitative assessment of the regime, including in-depth engagement with stakeholders to ensure a range of views are considered.
The findings are scheduled to be published in the second quarter of 2027. The review will assess the costs and benefits of the rules and whether the approach to maintaining sustainable cash access services is proportionate and effective.
Designated institutions
The government, then led by former Labour Party Prime Minister Sir Keir Starmer, chose 12 banks and building societies and one coordination body to be affected by the rules. They were: Barclays; NatWest and RBS; Lloyds Bank and Bank of Scotland; Santander; HSBC UK; Nationwide Building Society; TSB; Clydesdale Bank (Virgin Money); The Co-operative Bank; Northern Bank Limited; Bank of Ireland; and AIB Group (UK).
