PSR responds to the interim Access to Cash Review
In the first of Natalie Ceeney’s reports, it’s clear that cash is being used by fewer people and for fewer transactions. But the report also highlights the importance of cash to consumers generally and that it remains a necessity for many. This reinforces our view that cash will continue to be important for years to come.
The report echoes our own work and concerns that people need to continue to have a choice when it comes to making payments – be it with cash or another method. We know that above all else, people want to trust that they will be able to access their money and make payments when they need it.
We have already had discussions with the FCA, Bank of England, independent ATM deployers, the banks, and of course LINK, and everybody agrees that a sustainable long-term solution is needed – and that is why we have already started a programme of work in this area.
The recommendations that are expected in the full Access to Cash Review in Spring 2019, will provide additional and valuable insight to our work and we look forward to seeing the final recommendations.