The move comes after a spate of branch closures across the UK sparked concerns that customers and businesses who depend on cash will be left without easy access.
Fourteen of the UK’s largest banks, including HSBC Holdings, Barclays and NatWest Group, must ensure local communities can still easily access cash, the country’s financial watchdog said, as a wave of local branch closures threaten vulnerable customers.
The designated banks and building societies will be required to consider the potential impact of closing a branch on the local community and are responsible for plugging significant gaps in cash services where needed, starting Sept 18, the Financial Conduct Authority (FCA) said in a policy statement Tuesday.
