Banking Services Rural Areas 2025-11-04
2025-11-04
Response quality
Questions & Answers
Q1
Partial Answer
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Context
The hon. Member raised concerns about the adequacy of face-to-face banking services, noting that Labour's shadow Economic Secretary previously welcomed measures to protect access to cash but was concerned that they did not address essential face-to-face banking services.
When Labour was in opposition, its shadow Economic Secretary welcomed measures to protect access to cash, but was concerned about the fact that such measures do nothing to protect essential face-to-face banking services. Such services go beyond a banking hub, but they are now vanishing. While the Financial Conduct Authority is responsible for access to cash, there appears to be no Government body overseeing access to face-to-face banking services. Does the Minister agree that new regulation is needed to support residents and businesses in rural areas, especially as banks will prevent customers from cashing cheques in post offices from January?
We recognise the important role that post offices play in providing essential banking services as well as banking hubs. Decisions about which services are available at post offices, such as cheque deposits, are made by banks as part of their commercial arrangements. Customers continue to have other options for paying in cheques; for instance, Lloyds offers a Freepost service. I look forward to discussing these issues further with the hon. Member during our meeting.
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Assessment & feedback
New regulation needed for face-to-face banking services
Customers Have Other Options
Discussing Issues In A Future Meeting
Response accuracy