Britain’s high street lenders have shut thousands of branches across the UK in recent years, leaving many towns without any banks.
Major banks say the closures are down to the fact that there are fewer customers who are using in-person services, with more people preferring to use mobile and online banking.
Under the scheme banks will also need to assess the needs of local communities and make sure they are responding to residents and groups that raise concerns.
The rules go further than the current, industry-run, voluntary scheme.
Sheldon Mills from the FCA, said: “Three million people continue to rely on cash, even as digital payments become more popular. And many small businesses still need somewhere to safely deposit their takings each …