Consumers and businesses will have a legal right to withdraw and deposit cash within "a reasonable distance" of their home or premises, under new government plans.
This is good news for those who have noticed the number of local bank branches that have shut down in their areas.
The proposals have been welcomed by campaigners who have voiced their fears that limited cash access hurts those who need it most- it's estimated that eight million people still rely on cash.
The plan is to make sure that notes and coins remain within 1 kilometre of all businesses and homes but a consultation will take place first and finalised in September.
Small businesses have been affected by closing bank branches with many spending more to travel further to deposit their takings.
The proportion of purchases made using cash has been falling in recent years and accelerated during the Covid crisis.
The number of payments made with notes and coins dropped by 35% last year, according to banking trade body UK Finance, reflecting the reduced opportunities to pay for things during lockdowns.
It still accounted for 17% of all payments, making it the second most popular way to pay behind debit cards.
The Treasury said: "The government proposes that these geographic requirements would be set on the basis of cash access facilities being available within maximum distances of a minimum percentage of the population,"
The 1km distance could be extended over time if cash becomes less popular and the distance proposal is open to views during consultation.
Other considerations include whether the facilities are appropriate for vulnerable people, are accessible for people with disabilities, have adequate opening hours, and are suitably secure for high-value cash deposits.
Only recently Age UK warned against the progression into a cashless society and said that pensioners and those living with disabilities will be heavily impacted.
They called for guaranteed access to cash in the same way as we are guaranteed access to water and electricity.
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