Regulatory Alerts2022-06-13
Added · Updated
FG22/6: Branch and ATM closures or conversions
The guidance requires regulated firms operating branches or ATMs to notify the FCA early of any plans for long-term closures or ATM conversions and to provide a summary of their analysis regarding customer needs, usage trends, and potential harms. Firms must communicate closure decisions to customers and stakeholders no less than 12 weeks before implementation and ensure alternative services are accessible before closing sites. The document defines long-term closures as lasting six months or longer and conversions as changing free-to-use ATMs to pay-to-use, while excluding temporary closures, pilot sites, and closures where services remain available at nearby locations.
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