Gareth Shaw, Head of Money at Which? said:
“Cash is a lifeline for some of the most vulnerable people in society, and they will be hit hardest if the cash system is not safeguarded as the move towards digital payments accelerates.
“It is encouraging that the regulator is looking to strengthen its guidance for banks on ATM and branch closures as currently there is not enough scrutiny of these decisions, which can leave consumers cut adrift from local access to cash or other essential banking services.
“Given the long-term threat to the cash network, the government can waste no time in introducing the legislation that will guarantee consumers can continue to access their money locally.”