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Jo Gideon MP votes in favour of Government plans to ensure free access to cash on for high-street customers in Stoke-on-Trent Central

Jo Gideon MP votes in favour of Government plans to ensure free access to cash on for high-street customers in Stoke-on-Trent Central

  • Millions of people are set to benefit from new legislation that will help people to continue to withdraw and deposit cash for free.
  • While many of us already take advantage of the speed, convenience and functionality provided by digital payments, millions of people across our country continue to rely on the use of cash in their everyday lives – including some of the most vulnerable.

Last night, Stoke-on-Trent Central MP, Jo Gideon voted for the Conservative Government’s plans to ensure free access to cash for millions of people. The move will mean that the most vulnerable in society can continue to withdraw and deposit cash for free.

The Financial Services and Markets Bill, which passed one of its final hurdles last night in the House of Commons, contains a provision which means the financial services regulator will have the power over major banks and building societies to preserve access to cash for those who need it.

The Government Minister responsible for the Bill, Andrew Griffith MP, said that whilst speed, and convenience of digital payments opens a world of opportunity for people and businesses, the reality is that so many still depend upon access to cash, particularly our most vulnerable.

The guarantee in the Bill follows action taken by the Government to protect access to cash over recent years – including the Financial Services Act 2021 introduced changes to support the widespread offering of cashback without a purchase by shops and businesses.

Jo Gideon MP, Member of Parliament for Stoke-on-Trent Central said:

“It is evident that cash remains a vital payment method for many people in Stoke-on-Trent Central, who rely on free cash withdrawals and deposits on the high street. I have met with multiple organisations that campaign on this important issue, and since being elected in 2019, I have supported the campaign to enhance cash access in our communities. That’s why I voted last night to ensure continued free access to cash in the future. I understand that this guarantee is crucial for the elderly and the most vulnerable in our community, who frequently choose cash as their preferred payment option as the best way to budget.”


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Notes to editors

Notes to editors:  
  • There are around 39,500 free-to-use ATMs across the UK on the LINK ATM network. Over 1.2 billion cash withdrawals were made for free on the LINK ATM network in 2022. In total, £82.7 billion was withdrawn from the LINK ATM network in 2022. (
  • According to LINK, the average total value of ATM withdrawals per person over 16 in the UK was £1,564 in 2022. This compared to £1,462 in 2021.
  • Under industry arrangements, any community that submits a request for a review or that is facing the closure of a key cash service will have its needs independently assessed by LINK, who will consider whether additional cash services are required in that community.
  • LINK has recommended that over 100 communities should receive additional shared cash services following reviews of local cash access needs. This includes over 50 shared banking hubs. Five banking hubs have opened their doors to date (Brixham, Cambuslang, Cottingham, Rochford and Troon) and the pace of delivery is expected to increase in the coming months.
  Additional background – Financial Services and Markets Bill    
  • The Financial Services and Markets Bill requires the FCA to seek to ensure there is reasonable provision of cash withdrawal and deposit services, and provides the regulator with powers to carry out this role.
  • The Bill gives HM Treasury responsibility to specify which banks and building societies the FCA’s powers will apply to for the purpose of ensuring continued access to cash across the UK.
  • The government’s proposed amendments to the Financial Services and Markets Bill will require the Financial Conduct Authority (FCA) to seek to ensure reasonable provision of free cash access services for current accounts of personal customers as part of the FCA’s wider duty of seeking to ensure reasonable access to cash. The amendments tabled by Government would also require HM Treasury to include policy on free access to cash in relation to personal customers within the statutory statement of the government’s policies on cash access.

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Matthew Bridger

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The Office of Jo Gideon MP

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