Full list of 71 banking hubs set to open as 350 more planned amid branch closures – is one coming to your high street?

HUNDREDS more banking hubs are poised to replace lost bank branch services following years of widespread closures.

Since January 2015, banks and building societies have shuttered 6,128 branches, according to consumer group Which?. 

The ATM network LINK reports that an additional 215 branches will close between now and August 2025.

These closures show no sign of abating as banks increasingly shift their services online.

However, many people, particularly the elderly, still rely on in-person services, making it more challenging for this demographic to access essential banking facilities.

Banking hubs offer a solution by allowing staff from multiple banks to share the same space, filling the gaps that branch closures left.

Following a meeting with city minister Tulip Siddiq last week, Britain’s banks have agreed to establish 350 more hubs over the next five years. 

Under the deal reached between the Treasury and the banks, approximately 230 hubs will be opened by the end of 2025, with the remaining 120 to be rolled out by the end of the parliamentary term, around 2029.

Banking hubs feature a counter service operated by the Post Office as standard, enabling customers to conduct routine banking transactions conveniently.

Each hub also has a private area where customers can consult with staff representing their respective banks for more complex matters.

Cat Farrow, customer and strategy director at Cash Access UK, commented on the commitment to 350 additional banking hubs: “We’re delighted to see this commitment to bringing more Banking Hubs to communities across the UK.

“Access to cash and face-to-face banking services remain vital for millions of people in the UK, and these hubs play an important role in protecting these services.

“To date, we have opened 76 banking hubs across the UK and aim to open the hundredth by the end of this year.”

How are banking hub locations determined?

The location of banking hubs is determined by ATM network LINK and Cash Access UK, which review communities based on various criteria, including the number of shops, transport links, and levels of deprivation.

Cash Access UK is a not-for-profit organisation owned and funded by major banks.

There are 76 operational banking hubs, with another 73 in the pipeline.

The organisation has previously stated its aim to reach 100 banking hubs by the end of the year.

From the day a hub is recommended, it typically takes around 12 months to open.

In areas where finding a suitable property proves challenging, Cash Access UK can establish temporary hubs, providing the same services with the same team.

What are the alternatives to banking hubs?

There are still a number of ways in which affected customers can access basic banking services without having to venture to the next town.

You can use one of the Post Office’s 11,684 branches to perform basic banking tasks — but not open new bank accounts or take personal loans and mortgages.

You can find your nearest Post Office branch by visiting postoffice.co.uk/branch-finder.

Meanwhile, many banks offer a mobile banking service – where they bring a bus to your area offering services you can usually get at a physical branch.

Other banks use buildings such as village halls or libraries to offer mobile banking services.

It’s worth contacting your bank to see what services they have available, and when they might next be in your area.

In June, it was announced that new super ATMs would be launched in 17 UK locations where branch closures have left residents without access to essential banking services.

The ATMs will allow customers to withdraw funds, access their balance, change PIN numbers and deposit cash.

Bank of Scotland, Barclays, Halifax, Lloyds, NatWest, Royal Bank of Scotland and Ulster Bank are already signed up to allow deposits, at the super ATMs, with more banks set to sign up soon.