Banks of England can be fined if they do not offer individuals and businesses the ability to withdraw or deposit cash within a one-mile (1.6-kilometer) radius in urban areas and three miles (4.8 kilometers) in rural areas, as announced this Friday by the British Treasury.

The measure presented this Friday by the Treasury secretary of the Treasury, Andrew Griffith, is aimed, above all, at stopping the progressive disappearance of bank branches and ATMs in the most unpopulated areas of the country, due to transactions with physical money (“contactless payments”). The Minister of Finance explained in a statement that the set distances of one and three miles would guarantee current levels of access to ATMs and personalized banking services, although he cautioned that these limits could be extended if use of cash decreases.

Griffith indicated that the Financial Conduct Authority (FCA), the UK’s sector regulator, will be able to impose fines on banks that do not comply with the new policy. The minister insisted that cash had yet to play a “sustainable and significant role” in the economy, despite the decline in recent years in the use of coins and notes.

He stressed that the FCA would take over powers to maintain “current coverage levels”, while recognizing that needs may vary by location and may change over time. However, he warned, financial institutions must offer alternatives before closing ATMs or branches.

“People don’t have to drive hours to get ten pounds or deposit money for a birthday card, and businesses don’t have to travel far to deposit cash winnings,” says Griffith. The headline stressed that these measures would benefit “everyone” who uses cash, especially those “living in rural areas, the elderly and those with disabilities”.

Follow all the information from Five days in the Facebook, Twitter And LinkedInor in our newsletter Five Day Agenda