Now free-to-use cash machines are to be protected by the law

THE right to free access to cash is set be enshrined in law.

Amendments made to the Financial Services and Markets Bill would give the Financial Conduct Authority (FCA) new powers to ensure access to free-to-use ATMs.

Ministers acted after concerns were raised by campaigners about the closure of bank branches and a loss of free cash machines amid the rising cost of living.

The amendments would empower the FCA to ensure reasonable provision of free cash access services, covering both deposits and withdrawals – with an aim to ensure there are no free ATM ‘blackspots’ in the country.

Only 3,300 cashpoints have ‘protected’ status and are guaranteed to remain free. But the number of other machines that do not charge has fallen in recent years.

Economic Secretary to the Treasury, Andrew Griffith, said the measures were especially important for ‘rural communities, the elderly and households who rely upon physical cash’.