Cash access network Link has recommended eleven new banking hubs following Lloyds Banking Group's announcement of 49 further branch closures.
These hubs offer a shared space, similar to a traditional branch, but for multiple banks.
A counter service, staffed by Post Office employees, allows customers of any bank to withdraw and deposit cash, pay bills, and conduct regular transactions.
For more complex matters, private spaces enable individuals to speak to community bankers from their own bank, with different providers accessible on a rotating basis for specialist advice and privacy.
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
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