Stafford MP, Jeremy Lefroy has backed a Ten Minute Rule Bill which aims to protect the availability of free cashpoints on designated high streets.
The Minimum Service Obligation (High Street Cashpoints) Bill, introduced by Huw Merriman MP, would require banks to provide cash machines to be made available on designated streets, and to enable local authorities to designate streets that require cash machines in towns of more than 5,000 residents.
Recent figures have shown that since the beginning of 2018, free cash machines have been closing at an unprecedented rate. That has alarmed consumer groups, the Federation of Small Businesses and MPs.
While there has been a decline in cash use, cash remains immensely popular and important for consumers. Almost three quarters of adults in the UK say they use cash at least two or three times a week.
Commenting, Jeremy said: “The availability of cashpoints is an issue in many areas of my constituency. At a time when 2.2 million people in the UK rely almost entirely on cash it is critical that people can gain access to their money easily and free of charge, particularly those on low incomes, older people and people in rural areas.
“This Bill, if passed into Law, would compel ATM operators to operate at least one free-to-use cashpoint available 24 hours a week and 365 days per year on a High Street which supports at least 5,000 residents.”
The Bill is scheduled to receive its Second Reading on 25th January 2019.