Legislation changes

We can all individually help to support cash. Some things, however, need to be enforced through legislation, and we think that the UK needs a new law to say that everywhere needs to take cash.

Existing legislation and its limits

The Financial Services and Markets Act, effective from last year, gives the Financial Conduct Authority new powers to consider local concerns before bank branch closures. However, this legislation can’t prevent branches from closing, limiting its effectiveness.

What we need

We need stronger laws to:

  • Guarantee cash payments for everyone, everywhere
  • Support, not penalise, businesses that accept cash
  • Ensure ATMs are free and widely available
  • Protect the essential role of cash providers like the Post Office

International examples

Other countries are taking significant steps to protect cash:

  • France has required businesses to accept cash since 2010
  • Spain’s 2021 law mandates cash acceptance for transactions up to 1,000 Euros
  • Norway is strengthening laws to require all shops to accept cash from October 2024
  • Ireland is introducing the Access to Cash Bill, which will require many retailers to accept cash.
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