Link launches 14 new banking hubs as over 1,000 banks shut doors

Link, the ATM network, is to launch 14 new banking hubs in a bid to tackle increasing branch closures on the high street and improve access to cash.

Over 1,500 banks have now closed their doors, leaving those needing face-to-face service looking to travel further to another branch or use an alternative service.

The closures include major players such as HSBC, Lloyds and Virgin Money as they move towards digital banking. Recently, Barclays said it plans to close 57 branche s in the next two years, RBS is to shut a fifth of its shops and we will see 49 NatWest stores disappear this year .

The Labour party has pledged to open at least 350 banking hubs over the next parliament if it wins this week’s general election , recognising the need for banking to be widely available on the high street again.

The arrival of banking hubs means you can still stick with your provider and use your bank’s services in person. We saw the first six banking hubs open up last summer and there are now around 60 in the UK.

John Howells, chief executive Officer at Link said: The banking hubs we’ve announced today will protect access to cash on 14 high streets which are losing their last bank branch.”

While you have the option to switch bank accounts to a provider that has a branch near you, there is no guarantee its branch will remain open in the future.

Find out if one of the 14 is opening near you, and if you’re eligible to use a banking hub.

Where will the new banking hubs open?

The 14 new banking hubs, operated by the Post Office, will open next year in the following locations. They will be free to use.

You can check if one of 60 hubs that are already scattered around the UK, is near you on the Cash Access website .

Link has also announced nine deposit service sites to open in a year. Deposit services allow customers and small businesses to deposit cash in their bank account.

These are the deposit service locations.

How do banking hubs work?

Customers from various banks can access services in a banking hub, but it’s not open to everyone. The services include withdrawing or cashing in money, making bill payments or speaking to an adviser.

To use a banking hub, you need to be banking with one of the following providers:

• Barclays
• HSBC
• Lloyds Bank
• NatWest
• Santander
• TSB
• Virgin Money
• Bank of Ireland UK
• Danske Bank