Banks ‘to be fined’ unless they provide free cash withdrawals, new rule states

Thousands of Brits still rely on cash for everyday living Banks will face fines unless they provide free cash withdrawals within three miles of consumers and businesses under new Government plans, it has been claimed. New guidelines to be published by HM Treasury over the next few days will enforce new expectations for the availability of cash, according to Sky News. City minister Andrew Griffith – who visited a shared banking hub in Brixham, Devon, this week – is set to announce the new rules for the Financial Conduct Authority to enforce. While an increasing number of transactions are handled digitally, campaigners are pushing for banks to make sure cash is still available to those who still rely on it – particularly the elderly. The new rules also stipulate that current account holders can not face hidden fees from banks when withdrawing cash.