Banks and building societies must protect access to cash. Find out how you can request a review for your local area.
Our rules mean that banks and building societies must review how easy it is for you to get cash in your local area. This includes paying in and taking out cash, including notes and coins. Where there are significant gaps, they need to fill them.
The Government has chosen 14 banks and building societies and 1 coordination body to deliver these reviews.
What banks and building societies need to do
Banks and building societies must review access to cash in a local community when:
- Changes are made to services, for example, if a branch, cash machine or Post Office closes or changes its opening hours.
- 'Cash access requests' are submitted by local residents, businesses, and representatives.
If banks and building societies are planning to close facilities, including branches, which would affect your ability to pay in or withdraw cash, they must keep them open until the necessary cash services are available.
How to submit a cash access request
If you live, work, or run a business in a local area, and you’re concerned about accessing cash, you can request a review. Both individuals and local organisations can submit reviews.
Organisations will be able to share a wider view of community needs, including the most vulnerable residents and the businesses that rely on cash.
These reviews only look at whether you can pay in and take out cash. We know that other banking services are important too, but our powers only cover access to cash.
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Check services in your area
Before making a request, you should check what cash withdrawal and deposit services are available in your local area.
LINK has a Cash Locator[1] to help with this.
If your area doesn’t have the right services, or they aren’t suitable because of opening hours, for example, then you can request a review.
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Submit a request
You can also submit a request directly with one of the 14 banks and building societies.
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Firms carry out reviews
Firms have 12 weeks to carry out reviews and publish the outcomes.
If the review finds that more services are needed, firms must deliver those services within 3 months of the review, unless there are exceptional circumstances.
There are a range of services that reviews may recommend depending on the needs of the local area. These could include ATMs, banking hubs or adapting Post Office branches. These services only need to offer access to cash and not wider banking services, as our powers only cover access to cash.
If you're unhappy with the outcome
If you're unhappy with the outcome, communities have 28 days to challenge the review. This must then be completed by the firm within 12 weeks.
What reviews need to consider
The reviews need to:
- Consider where people live and businesses are based and identify where gaps in access to cash are having a significant effect on local communities.
- Look at a range of factors, including how long it takes and how much it costs for people to travel to get cash.
- Consider how easy it is for individuals and businesses to take out and pay in cash, if there have been closures or changes.
- Identify what services are needed, if there are significant gaps.
Find out more about how LINK assesses access to cash[3].
Cash acceptance by businesses
Reviews won't look at whether local businesses accept cash as payment, as our powers don't extend to cash acceptance. Businesses can choose whether to accept cash or not.
However, the reviews do aim to make sure that businesses can access cash deposit facilities and change. This helps to make sure that businesses that do want to accept cash can do so.
