Pa waith y mae Llywodraeth Cymru yn ei wneud ar hyn o bryd i annog busnesau Cymru i gadw systemau talu arian parod?
We are in regular discussion with the Financial Conduct Authority to understand their work and its impact on Wales. Through the Financial Services & Markets Act 2023, Parliament has asked the FCA to seek to ensure reasonable provision of cash deposit and withdrawal services for personal and business current accounts in the UK or part of the UK. Following the Cash Access Policy Statement published by the Government, new rules will ensure that as cash access services evolve, they continue to be provided on a reasonable basis.
The FCA’s new powers are focussed on access to cash services rather than wider banking services, alongside seeking to ensure reasonable provision of cash deposit and withdrawal services and ensuring designated firms uphold their obligations.
In line with HMT’s new policy statement, the FCA will seek to maintain a network of cash access facilities that is in keeping with the current distribution of services so that people and businesses who remain reliant on cash are able to withdraw and deposit it.
While there is an increasing number of people regularly using digital services, the FCA recognises that many people are still heavy users of cash and reliant on face-to-face services.
The FCA do not have powers to ask retailers to accept cash as payment for goods or services. Retailers are free under the existing law to decide whether or not to accept cash or to only accept digital payments.
We are working hard to ensure people have access to banking services, including supporting the credit union movement, ensuring access to free cash through our work with the Link network.