Bank branches may be wiped out from UK high streets by 2032 – will cash access survive? | Personal Finance | Finance

0

It should be noted efforts have been made by the FCA, the financial regulator, to protect access to cash for consumers.

In finalised guidance issued in mid-September, the FCA made it clear that banks, building societies and credit unions are expected to keep the regulator informed of any plans for closures or conversions of branches in good time before any final decision is made.

Before a decision is made, firms must provide a clear summary of their analysis of the needs of customers currently using the sites, the impact of the proposals on those customers, and alternatives that are, or could reasonably be, put in place if they implement the proposals.

Throughout this process, the customers involved must be clearly communicated with to ensure they’re aware of appropriate alternatives they can use.




Source

Leave A Reply

Your email address will not be published.