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Select Committee · Treasury Committee

Acceptance of Cash

Status: Closed Opened: 4 Nov 2024 Closed: 13 Oct 2025 2 recommendations 12 conclusions 1 report

The Committee is inquiring into whether there is a need in the UK to regulate or mandate the acceptance of physical cash in the form of notes and coins. The inquiry will consider any need for legislation and/or regulation, and potential costs to consumers and businesses. Read the call for evidence to find out more …

Clear

Reports

1 report
Title HC No. Published Items Response
6th Report - Acceptance of cash HC 324 30 Apr 2025 14 Responded

Recommendations & Conclusions

2 items
120 Recommendation 6th Report - Acceptance of cash Rejected

Broaden Financial Inclusion Committee remit and regularly publish evidence on equitable cash access.

HM Treasury must broaden the terms of reference of the Financial Inclusion Committee on “digital inclusion and access to banking services” explicitly to address the risk that a two-tier economy will lock the digitally excluded out of the economy. HM Treasury must commit to reviewing internally and externally produced evidence …

Government response. The government states that the existing remit of the access to banking sub-committee already focuses on digital inclusion and that it already continuously reviews relevant data, therefore it does not believe there is a need to broaden terms or implement …
HM Treasury
122 Conclusion 6th Report - Acceptance of cash Rejected

Monitor cash acceptance levels and report annually to the Committee on tolerable levels.

There may come a time in the future where it becomes necessary for HM Treasury to mandate cash acceptance if appropriate safeguards have not been implemented for those who need physical cash, and the level of cash acceptance begins to lead to widespread detriment. To ensure that HM Treasury has …

Government response. The government agreed to continually monitor cash acceptance levels through existing data sources but rejected the call for annual reporting to the Treasury Committee, believing current ongoing data collection provides sufficient information.
HM Treasury