The new rules are set to come into force this month
New regulations are set to come into force that will impact all UK bank users with the aim to protect access to cash. From 18 September, the Financial Conduct Authority is implementing its new Access to Cash policy. This mandates banks to ensure sufficient provision of cash machines and other means for Britons to access cash.
Another 69 branches are closing in September, including branches of Halifax, Royal Bank of Scotland , Lloyds, NatWest and Barclays. The new regulations will also mandate the banks to 'clearly communicate to consumers and businesses where they can access cash services, how to make a cash access request and how to request an assessment review'.
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