Bank branch closures have accelerated the rollout of new banking hubs in certain areas
By Patrick O'Donnell
Published: 02/07/2024
Bank branch closures have accelerated the rollout of new banking hubs in certain areas
EE unleashes colossal broadband boost for millions, and bundles bonus for Xbox, PC, and Fire TV Stick users
Lady Louise in stitches as Sophie plays drinking game in carriage
The New Messiah: Nigel Farage will disrupt our future and divert Labour from its course
Driving licence changes could see motorists banned from carrying passengers
Lady Louise pictured with male friend as royal spotted at special competition
BBC Glastonbury viewers ask 'is she OK?' as Shania Twain sparks concern during Legend slot
Kate and William set to miss out on upgrade as King forges new plan
Zara Tindall 'left distressed' after Princess Anne's injuries
Lineker sticks knife into England again and reveals Shearer 'left the room' during Slovakia win
Trending on GB News
Harry suffers fresh blow as petition launched to stop royal from receiving award
More banking hubs operated by the Post Office will be launched across the UK in an attempt to tackle the detrimental impact of bank branch closures on local communities.
LINK, the ATM network, has confirmed 14 new banking hubs will be rolled out to bolster UK high streets and improve people's access to cash next year. Among the banks participating in this initiative include Lloyds, NatWest, Barclays, HSBC and Santander.
Experts have previously warned that around three million Britons are at risk of not having sufficient access to cash services due to branch closures from banks and building societies.
Research conducted by LINK found that 405 more branches are to close in 2024, with another 78 already planned for next year. Which? reports that over 6,000 branches have shut down since 2019.
One of the options being floated to address the concerns many have with the change to traditional services is banking services.
These are sites where banks and building societies share a physical space located in areas which have been left bereft of a bank branch.
Do you have a money story you’d like to share? Get in touch by ing money@gbnews.uk.
Hubs include a counter service operated by employees from the Post Office who will facilitate cash withdrawals and deposits from any bank or building society.
On top of this, customers will be able to bill payments and complete any essential banking transactions.
Private areas to discuss sensitive financial matters will also be available in banking hubs where customers can speak with bank managers.
Ahead of voters heading to the polls later this week, the Labour Party has pledged to roll out hundreds of new hubs across the country to mitigate the impact of bank closures.
Here is a full list of the 14 banking hubs which are being placed in areas next year to help offset the recent trend of bank branch closures:
John Howells, the chief executive Officer at Link, outlined why this evolution in the provision of banking services will be essential for communities across the country.
He explained: "The banking hubs we’ve announced today will protect access to cash on 14 high streets which are losing their last bank branch."
LATEST DEVELOPMENTS:
A full breakdown of the existing banking hubs can be found by visiting the Cash Access UK website.
In order to access a banking hub, Britons need to be a customer at one of the following banks:
