Gareth Shaw, Head of Money at Which?, said:
“The government made a commitment to protect access to cash in the last Budget, so it’s positive it is now taking steps towards legislation, of which cashback without purchase is one part.
“We are strongly supportive of the FCA taking responsibility for protecting cash, as current oversight of the cash system is fragmented with no one body accountable.
“While legislation protecting access is key, it risks being undermined if people cannot spend cash on the things they need. In its new role, the FCA should also look at the problem of cash acceptance.”