6th Report - Acceptance of cash
Select Committee
Treasury Committee
HC 324
30 April 2025
Government response
2nd Special Report - Acceptance of Cash: Government Response · published 12 Jul 2025
Recommendations & Conclusions
5 results
111
Conclusion
Accepted
Prove the effectiveness of the current cash access strategy for all citizens
Conclusion
The Government and the business community must prove that the current strategy of focusing on cash access alone works, and that it works for everyone. (Conclusion)
Government Response Summary
The government highlights that the FCA's access to cash rules came into force in September 2024 and the FCA is committed to monitoring their impact, including undertaking and publishing a formal review of effectiveness with timings to be confirmed this autumn. It also notes the Bank of England's new oversight powers over wholesale cash distribution, effective from June.
HM Treasury
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113
Conclusion
Accepted
Small businesses committed to accepting physical cash, vital for market preservation
Conclusion
We welcome the commitment by small businesses, including convenience stores, to accepting physical cash from those who need to pay for it. We note that for some types of businesses, including market traders, cash remains fundamental to the preservation of …
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Government Response Summary
The government agrees on the importance of businesses having clear information on payment methods and highlights existing data from the British Retail Consortium, alongside ongoing work by the Payment Systems Regulator (PSR) to improve transparency of card scheme and processing fees.
HM Treasury
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117
Conclusion
Accepted
Physical cash maintains vital independent role when digital payment systems fail
Conclusion
Digital payments systems are vulnerable to failure for reasons ranging from accidents or hostile actions by state actors, through to failure by a supplier in a retail bank’s digital supply chain. Physical cash has a vital role to play as …
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Government Response Summary
The government commits to continually monitoring and evaluating payments data, including new specific data from the Bank of England's expanded surveys which now includes a question on the impact of businesses refusing cash. However, it does not see a need for annual reporting due to ongoing data evaluation.
HM Treasury
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119
Conclusion
Accepted
Cash remains essential for vulnerable groups, as digital solutions may not ensure full financial inclusion.
Conclusion
Cash is an enduring payment method that many people prefer to use and on which people who do not have equal access to non-cash payment methods rely. Although technology may progress further and reduce the number of people who rely …
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Government Response Summary
The government recognises the importance of cash for vulnerable groups and commits to publishing a Financial Inclusion Strategy later this year, which will include a committee to examine barriers to accessing appropriate financial products and services.
HM Treasury
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121
Conclusion
Accepted
Challenge businesses and local government to support financial inclusion for cash-reliant disabled people.
Conclusion
The Department for Business and Trade, the Ministry of Housing, Communities and Local Government and HM Treasury must work together to challenge businesses and local government to set out how they are supporting financial inclusion, particularly for people who rely …
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Government Response Summary
The government agreed on the importance of financial inclusion but stated that businesses decide payment methods and the Equality Act 2010 does not mandate cash acceptance. It highlighted existing legal obligations for businesses and public authorities to consider reasonable adjustments for disabled persons.
HM Treasury
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