FCA encourages banks to take steps to facilitate customer access to cash

Thursday 26 March 2020 14:10 CET | News

FCA has encouraged banks to take steps to facilitate customer access to cash–such as waiving fees for individual savings accounts (ISAs) and allowing customers to end their term deposits early, reports Electronic Payments International.

The Financial Conduct Authority (FCA), Britain’s financial regulator, says it expects companies to show flexibility in supporting consumers especially during the coronavirus outbreak, bearing in mind individual circumstances. 

UK companies have taken steps to help ensure consumers have access to cash, including the raising of cash machine withdrawal limits, says the regulator. 

The regulator is currently reviewing it work plans, in order to delay or postpone activity which is not critical to protecting consumers and market integrity in the short-term.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Financial Conduct Authority, FCA, cash, coronavirus, banks
Categories: Banking & Fintech | Payments General
Countries: United Kingdom
This article is part of category

Banking & Fintech