Cash access organisation Link has announced recommendations for four new banking hubs, marking a significant milestone as the total number of recommended hubs reaches 250 across the United Kingdom. This development comes alongside Santander's confirmation that it will close 44 of its bank branches, highlighting the ongoing transformation of the UK's banking landscape.
New Hub Locations and Santander Closures
The 250th banking hub recommendation is situated in Leighton Buzzard, Bedfordshire, with three additional hubs newly recommended in Ormskirk, Lancashire; Wilmslow, Cheshire; and Whitehaven, Cumbria. Notably, these four locations correspond directly to areas where Santander has announced branch closures, with the bank planning to shut these branches by the end of January 2027.
How Banking Hubs Function
Banking hubs serve as shared banking spaces designed to mitigate the impact of widespread branch closures. They provide a counter service accessible to customers of any bank, enabling cash withdrawals and deposits, bill payments, and routine banking transactions. Additionally, these hubs feature dedicated spaces where customers can consult community bankers from their own financial institutions, with staff from different banks available on specific days throughout the week.
Significance and Community Impact
John Howells, Chief Executive of Link, emphasised the importance of these hubs, stating: "Almost five years ago, the first two banking hubs opened as part of a pilot to see how we could better protect access to cash. We're delighted to announce the recommendation of the 250th hub today. The hubs, alongside other solutions, are making a significant difference and helping communities to readily access and deposit cash with ease."
This announcement follows the recent opening of the 200th banking hub in Billericay, Essex, by Cash Access UK in December, with 210 hubs now operational nationwide. The expansion of banking hubs represents a critical response to the persistent decline in physical bank branches, offering a vital lifeline for communities that rely on accessible cash services.
As the UK continues to navigate the shift towards digital banking, the role of banking hubs in preserving cash access and supporting local economies remains increasingly prominent, ensuring that essential financial services remain within reach for all citizens.
