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UK consumer group calls on government to appoint cash regulator

February 12, 2019

The U.K. consumer protection group Which has called on the government to create a dedicated regulatory oversight position whose appointee would be responsible for ensuring consumer access to cash across the country.

The call comes in response to findings by Which and the Federation of Small Businesses that recent mass closure of ATMs across the United Kingdom is hurting merchants who operate small cash-preferred shops and the people who patronize those shops.

According to a BBC report, Which has analyzed data showing that ATMs have disappeared from the U.K.'s high streets at the rate of nearly 500 per month through the last half of 2018.

"We have serious concerns that the alarming rate of cash machine and bank branch closures risks leaving people facing an uphill battle to access the cash they rely on," Jenni Allen of Which told the BBC.

"Cash is also a vital backup as fallible digital payments grow in popularity, so the government must appoint a regulator to oversee these changes and ensure no one is excluded and left struggling to go about their daily lives,” Allen said.