The government is facing calls for a new regulator to protect consumers’ access to cash, following several bank IT failures and thousands of cash machine and branch closures across the UK.
The consumer group Which? said cash is still a necessity for more than 25 million people in the UK. It also noted the combined closures of cash machines and branches have left people struggling to pay for essential goods and services.
The charity is campaigning for the creation of a regulator with sole responsibility for cash infrastructure, which ensures continued access to physical money.
Jenni Allen, the managing director for Which? Money, said: “We have serious concerns that the alarming rate…
This is only a snippet of a Business Article written by Kalyeena Makortoff Banking correspondent
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