The Treasury has set a limit of three miles for people to be able to withdraw or deposit money.
People and businesses should be no more than three miles away from the ability to withdraw or deposit cash under plans set out by the Treasury. The financial services watchdog will be given the power to fine banks and building societies which fail to maintain standards on protecting access to cash.
Mr Griffith said: “People shouldn’t have to trek for hours to withdraw a tenner to put in someone’s birthday card – nor should businesses have to travel large distances to deposit cash takings. Top Money Stories Today Building on the Financial Services and Markets Act 2023, the FCA will use these newfound powers to make sure banks and building societies are keeping up to these standards - and have the power to fine them if they do not.
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