The banking sector is being warned

Penalties for Banks if it does not secure free access to cash for the UK population, including businesses, following waves of branch closures over more than a decade.

The legal framework showed that no person or business should be further than three miles away from facilities to withdraw or deposit cash including a cash machine, otherwise known as an ATM.

It also pledged that no customers should face additional or hidden charges for the services and that if a facility is being withdrawn, a replacement should be put in place before the closure takes place.

The move follows a backlash against the disappearance of physical banking sites with charities, MPs and consumer groups long arguing the vulnerable, particularly the elderly, are being denied face-to-face banking services in their communities.






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