Access to cash: Costs to consumers and SMEs of a loss of access to in-person cash and banking services

Practice area: Behavioural Economics | Consumer markets and protection
Client: Financial Conduct Authority
Published: 6 February, 2024
Keywords: SMEs Access to cash behavioural consumer consumer protection Public Policy

London Economics led this study for the FCA to estimate the costs to consumers and SMEs from loss of access to cash and in-person banking services. The research explored how consumers and SMEs currently use these services and how they would behave if they lost access to these services. It identified that access to these services is particularly important for certain vulnerable groups, including those on low incomes and the digitally excluded.


The research also used quantitative and econometric methods to estimate the costs faced by consumers and SMEs when access to these services is removed. These estimates have been used by the FCA in their analysis supporting their consultation paper proposing a new regulatory regime for access to cash. discussing how access to cash should be supported in the future. The narrative and technical reports written by London Economics can be found (alongside the FCA’s consultation paper), here.