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Cash access network Link has confirmed its 200th banking hub recommendation to help plug gaps in the cash access network, as consumer campaigners raised concerns about access to physical banks being “cut to the bone”.
Link’s latest wave of recommendations will help to fill potential holes left behind and maintain cash access as banking giant Lloyds makes cuts to its branch network.
Lloyds Banking Group announced on Wednesday that it will shut 136 more high street branches.
Sam Richardson, deputy editor of Which? Money, said: “More people are banking digitally nowadays, but there remains a significant minority of consumers across the country who still rely on bank branches to access vital face-to-face services.
“The UK’s bank branch network has been cut to the bone in recent years, often leaving people struggling and having to travel long distances to access cash or banking services.
“It’s therefore vital that banking hubs are rolled out quickly so consumers can feel their effects. The Government has committed to opening 350 hubs in the next few years – and it should be prepared to revise that figure upwards if necessary.”
Twenty out of 22 new hubs announced by cash access and ATM network Link stemmed from local bank branch closures, with two others – Penistone in Yorkshire and Knutsford in Cheshire – due to requests made from within the community.
The remaining new hubs will be in Alexandria in Scotland; Annan, Scotland; Bishopbriggs, Scotland; Brigg, Lincolnshire Caterham, Surrey; Falmouth, Cornwall; Glossop, Derbyshire; Helensburgh, Scotland; Houghton-le-Spring, Tyne and Wear; Hucknall, Nottinghamshire; Horsforth, Yorkshire; Leominster, Herefordshire; Harpurhey, Manchester; Nelson, Lancashire; Peterlee, County Durham; Seaton, Devon; Sleaford, Lincolnshire; Tunstall, Staffordshire; Thornbury, Gloucestershire; and Wymondham in Norfolk.
Penistone marked Link’s 200th recommendation.
Lloyds Banking Group is set to close 61 Lloyds, 61 Halifax and 14 Bank of Scotland branches between May this year and March 2026.
The group said that customers can now use branches of other brands within the group for their in-person banking. Once all previously announced closures are complete, the banking group will have 757 branches remaining.
Link carries out assessments to understand how the closure of a bank branch will affect access to cash for the community.
Communities can also ask Link to carry out an assessment if they feel they need better access to cash.