Banking hubs near me: what is a banking hub, and where are the 15 new UK banking hubs opening - full locations

• 15 new banking hubs are opening across the UK to enhance cash access
• The spaces are shared between multiple banks, offering basic banking services and cash access
• High street bank staff will operate on a rotating basis to handle complex issues privately
• New FCA rules require banks to ensure adequate cash access, including reviewing impacts of branch or ATM closures
• Communities with identified gaps in cash services can request new hubs

15 new banking hubs are set to open as new rules to support cash access in communities take effect.

The hubs are collaborative spaces shared by multiple banks, offering both personal and business customers essential banking services and cash access.

They feature a counter service managed by the Post Office, with staff from major high street banks rotating through to assist with more complex issues in a private setting.

Deposit services at these hubs will also enable small businesses to handle banknotes and coins, providing a convenient way to deposit and manage their cash.

Once cash access and ATM network Link has recommended a new banking hub or deposit service, in the majority of cases these will be delivered by a bank-owned company called Cash Access UK. To date, Cash Access UK has opened 81 banking hubs across the country.

What are the new cash access rules?

Plans for the banking hubs were announced as new access to cash rules overseen by the Financial Conduct Authority (FCA) came into force on Wednesday (18 September).

Under the rules, banks and building societies must assess whether changes to local services, such as closing branches or cash machines, leave local communities lacking ways to take out or pay in cash.

Residents, businesses, local representatives, and charities who feel there is a gap in cash access can also request a review. Link will be carrying out community assessments in accordance with the new rules.

The organisation said it will be able to recommend banking hubs where there is still one bank or building society branch in town, where it might not meet the needs of businesses and consumers.

Adrian Roberts, deputy CEO of Link, said: “Today is an important moment for the millions of people across the country who either rely on or prefer to use cash on a regular basis.

“The new rules that have come into effect today are great news for consumers and businesses and will ensure that access to cash continues to be available on our high streets for years to come.”

Where are the new banking hubs opening?

Link has reassessed 182 previously announced bank closures, where the branch has not yet closed its doors, under new the rules in force from Wednesday.

It said that as a result, the following communities will have a banking hub delivered:

• Frome, Somerset
• Hailsham, East Sussex
• Market Harborough, Leicestershire
• Monmouth, Monmouthshire, Wales
• Morecambe, Lancashire
• Newquay, Cornwall
• Normanton, West Yorkshire
• Rugeley, Staffordshire
• Sheerness, Kent
• Sidcup, London
• Thetford, Norfolk
• Whitley Bay, Tyne and Wear

As a result of community requests received and assessed under the new rules, the following communities will have a banking hub delivered:

• Harpenden, Hertfordshire
• Huntly, Aberdeenshire, Scotland
• Yeadon, West Yorkshire

Why have there been problems with the hubs?

While 15 new banking hubs opening in communities across the UK is ostensibly a good thing, concerns have been raised about the quality of the facilities.

According to the BBC, many hubs lack printers, which means customers can't obtain paper statements that might be needed for employers or landlords.

Issues have also been reported regarding the overall service quality and the level of investment from banks, with some hubs particularly criticized for not providing essential services, such as printing.

We'd love to hear your thoughts on the new banking hubs and how they might impact your community. Do you think these changes will improve cash access in your area? Share your experiences and opinions in the comments section.