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Section 131U: Purpose for which FCA must exercise functions under this Part

Financial Services and Markets Act 2000 · 2000 c. 8View on legislation.gov.uk

Part 8B: Cash access services

The FCA must exercise its functions under this Part for the purpose of seeking to ensure reasonable provision of cash access services in the United Kingdom, or a part of the United Kingdom.

In this section references to cash access services include references to free cash access services.

"Reasonable provision" of cash access services is provision of such nature and extent as the FCA may determine, having regard to—

the cash access policy statement currently in effect (see section 131P), and
such other matters as it considers appropriate.

In making a determination for the purposes of subsection (3) the FCA must, in particular, have regard to any local deficiencies in provision of cash access services—

which the FCA is aware of, and
the impacts of which the FCA considers to be significant.

A local deficiency in provision of cash access services is a circumstance which limits the ability of persons in any locality in a part of the United Kingdom to—

withdraw cash from a relevant current account, or
place cash on a relevant current account.

In determining whether there are local deficiencies in the provision of cash access services, and the significance of the impacts of such deficiencies, the FCA must have regard to—

the cash access policy statement currently in effect, and
such other matters as it considers appropriate.

Those other matters may include (but are not limited to)—

the number of persons likely to be affected by the deficiency;
the characteristics of the persons likely to be affected by the deficiency;
the likely impact on the persons likely to be affected.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.