Posted by AdviserDirect on 06/13/2019

UK banks commit to free access to cash

UK banks commit to free access to cash

The UK banking industry is promising to work with local communities to ensure that Brits continue to have free access to cash as the country drifts towards a digital economy.

The ongoing removal of bank branches and ATMs from Britain's high streets has led to a rowdy debate about the consequences for a disenfranchised segment of the populace - estimated to comprise eight million individuals - who would struggle to cope in a cashless society.

In May the government outlined plans for a 'Joint Authorities Cash Strategy Group' and the banking industry, through UK Finance, has been keen to demonstrate its commitment to work with the new entity.

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