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While Covid-19 accelerated the transition to digital forms of payment, at UK Finance we continue to promote the importance of consumer choice in this area. Cash remains a safe and widely used method of paying for goods and services, and is relied on by some of the most vulnerable groups in society. The Cash Services team supports members through our forecasts of upcoming demand, the operational trading of notes and coin, and oversight of systemic cashflow risks. In ensuring that the industry remains fit for purpose, we also work closely with The Royal Mint on tackling counterfeit coin in circulation and with the Bank of England on ensuring the correct amount of banknotes are in circulation. We work with our members and other participants in the cash supply chain to promote environmental sustainability within the cash system. The team also works closely with colleagues in Personal Finance to support the organisation’s work on Access to Cash, run jointly with the independently chaired Cash Action Group.
Each year firms operating customer operated cash dispensing machines report their compliance to the Local Recycling Code of Conduct via the British Retail Consortium or LINK. Please see the code document below.
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