Eleven new banking hubs have been recommended by cash access network Link after Lloyds Banking Group announced a further 49 bank branches will close.
A banking hub is similar to a traditional bank branch, but the space is shared by multiple banks.
Hubs have a counter service operated by Post Office employees, where customers of any bank can withdraw and deposit cash, make bill payments and carry out regular banking transactions.
There are also private spaces where customers can speak to community bankers from their own bank for more complicated matters that require specialist knowledge or privacy.
Banks work on a rotating basis, so staff from different providers are available on different days.
Link has recommended 244 hubs so far.
The Government has committed to delivering 350 banking hubs over the course of this Parliament.
The hubs will now be delivered by Cash Access UK. To date, 186 banking hubs are up and running.
Since 2022, Link has assessed 2,209 bank branch closures, and continues to receive community requests for better cash access.
Retail banks have been shutting branches at a fast pace in recent years amid the shift towards online banking.
John Howells, chief executive of Link, said: “Banking hubs continue to provide a key service on the high street and we’re delighted to announce these new locations.
“Millions still rely on cash day in, day out, and we’re committed to keeping cash on the high street.”
The 11 new locations across the UK earmarked for a banking hub are:
– Buxton, Derbyshire– Camborne, Cornwall– Chepstow, Monmouthshire– Deal, Kent– Gorseinon, Swansea– Grangemouth, Falkirk– Harborne, West Midlands– Hawick, Roxburghshire– Ryde, Isle of Wight– Stamford, Lincolnshire– Totton, Hampshire
