More banking hubs open as branch closures continue

client with debit card talking with bank teller in bank

(Image credit: Getty images)

published 3 April 2023

Eight new 'banking hubs' are to open in the UK this year, as banks continue to shut their branches.

Banking hubs are seen as the solution to keeping customers’ access to cash, in-person contact and other financial services - especially in the increasing number of areas that no longer have bank branches or easy access to cash.

We tell you everything you need to know about banking hubs and where you can find one.

What are banking hubs?

Banking hubs allow different banks to work together to ensure communities have access to cash services, with a counter service provided by the Post Office. The hubs also provide dedicated rooms with bank staff on rotation, so customers can speak to trained specialists from their bank on set days.

Customers of any bank can withdraw money, access their accounts, deposit cash and cheques, at any time.

More complicated enquiries that require specialist knowledge or privacy are dealt with by a representative from one of each major banks that is involved in the collective scheme.

This means there should be trained specialists from different banks available on different days.

The first hubs were piloted in 2022 in Cambuslang in South Lanarkshire and Rochford in Essex.

Banks have been ramping up planned branch closures this year, including Nationwide, Barclays, Lloyds and Halifax. Since January 2015, 5,355 branches have been closed or are in the process of being closed, according to Which?.

When a bank closes a branch, it tells ATM network operator Link which then assesses the impact on the local community's access to cash.

Which banks have banking hubs?

10 banks are taking part in the collective banking hubs scheme:

Bank of Ireland UK
Barclays
Danske Bank
HSBC
Lloyds Bank
Nationwide Building Society
NatWest
Santander
TSB
Virgin Money

Where can I find a banking hub?

Since banking hubs were piloted last year, four hubs are currently open at the following locations:

Brixham, Devon – 62 Fore Street, TQ5 8EF
Cambuslang, Lanarkshire – 158 Main Street, G72 7EL
Cottingham, East Yorkshire – 121 Hallgate, HU16 4DA
Rochford, Essex – 38-40 West Street, SS4 1AJ

Where are the planned banking hubs?

Some 47 banking hubs are planned to open in communities across the UK this year. There is no specific launch date for when these hubs will open but most should be in operation within the next 12 months. We’ll update this article as soon as we know more.