Cash

The Cash Services Group

The Cash Services Group (CSG) is a Payments Council interest group which acts as a focal point for the provision of strategic direction on co-operative (non-commercial) issues for Cash as a component of the UK Money Transmission and Payments Industry, and as the cash industry lobby group on all aspects other than those relating to Scottish notes and Northern Irish notes and coin. 

What are the Benefits of the Cash Services Group?

Through inter-bank co-operation it seeks to maintain public confidence in the integrity of the cash distribution process, and prevent the occurrence of a disorderly market (e.g. under supply of notes and coin geographically or inter-member necessary to satisfy public demand) by ensure that industry-wide contingency plans exist to support members facing operational problems and regularly review those contingency plans in the light of changes to the structure of the Industry. It also facilitates members’ operational liaison with the Bank of England, the Royal Mint and, where appropriate, HM Treasury, and advises and initiates proposals on Standards and Security issues. 

Who are the participants in the Cash Services Group?

Those organisations, including Financial Institutions who are involved, directly or indirectly, in wholesale note or coin operations, i.e. the exchange, in whole cages, of notes with the Bank of England or whole cages of coins with the Royal Mint. Institutions must be subject to appropriate supervision by the Financial Services Authority (FSA) or an EC/EEA member state or G10 country supervisor, or be admitted to the Note Circulation Scheme by the Bank of England. 

Subsidiary groups

The Cash Risks Group (CRG) and the Coin Distribution Working Party (CDWP) both report to the Cash Services Group. The former undertakes an annual review of potential risks to note and coin supply and circulation, whilst the latter facilitates the weekly transfer of coin from members holding surplus coin to those requiring additional coin to meet their customers’ demands. The CDWP is also involved in the forecasting of the demand for new coin from The Royal Mint.