Nine new banking hubs have been recommended by ATM Network Link, an initiative to help maintain the cache network.
The Banking Hub is a shared banking space on the High Street, with dedicated rooms where customers can see community bankers from their own bank.
Community bankers work on a rotation basis with a different banking provider available each day of the week.
LINK recommends new banking centers in Barnoldswick (Lancashire), Clay Cross (Derbyshire), Earlstown (Merseyside). heywoodHorwich (both in Greater Manchester), Oakham (East Midlands), Shoreham-by-Sea (West Sussex), Stapleford (Nottinghamshire) and Wotton (Norfolk).
There are currently four banking centers up and running across the UK, in Brixham (Devon), Cambuslang (South Lanarkshire), Cottingham (East Riding of Yorkshire) and Rochford (Essex).
Access to cash and face-to-face banking services remains vital for millions of people across the UK
John Howells, Link
Link has also recommended new deposit services in six communities – Keswick (Cumbria), Ripley (Derbyshire), Littlehampton (West Sussex), Whitstable (Kent), Dagenham (Greater London) and Colwyn Bay (Clyde).
The new deposit services will provide consumers and businesses with convenient ways to deposit cash without visiting a bank branch.
Cash Access UK, a company owned by the bank, will now open new hubs and deposit services.
The total number of new cash services recommended by Link now stands at 76 – including 38 banking centers and 38 deposit services.
The Banking Hub scheme is funded by banks. Hubs can be set up when a suitable location is found.
The wave of bank branch closures has raised concerns about people’s ability to easily access their own money. Earlier this week, NatWest announced the closure of 23 branches, including branches in Horwich and Shoreham-by-Sea – two of the new locations Link has recommended for banking hubs.
As Lloyds, TSB and Barclays announced closures earlier this month, NatWest’s announcement meant that 87 bank branch closures have been announced so far this year, in less than a month .
Various other initiatives have been taken to fill the gap including cashback in stores.
people One can also do their everyday banking at post office counters under an agreement with several banks.
Government has said it will legislate to protect the future of cash.
John Howells, CEO, Link, said: “Access to cash and face-to-face banking services remains vital for millions of people in the UK.
“Not everyone may or may not be able to go digital yet, so we are excited to announce new Cash services to support these communities.”
What is most needed is the long-awaited government legislation to protect access to cash, with a minimum level of guarantee of free access to it
jenny ross
Jenny Ross, which one? The Money editor said: “With thousands of bank branches closing their doors in recent years, people who rely on cash and in-person banking services need alternative forms of access, so it is encouraging to see that more banking Hubs are ready to open.
“The rollout of these banking centers should be expedited as cash returns help many people manage their finances during the time-of-living crisis. To offset the impact of hundreds of branches closing every year, For they just aren’t opening quickly enough.
Which? also recognizes the importance of deposit facilities, particularly for small businesses, and looks forward to learning more about how they will function.
“Ultimately, however, what is needed most is long-awaited government legislation to protect access to cash, with guarantees of a minimum level of free access to it, so people are free to hold their own money.” You don’t have to go out.”