Link’s latest wave of recommendations will help to fill potential holes left behind by Lloyds Bank’s latest rounds of closures
Link, the cash access network, has confirmed its 200th banking hub recommendation amid concerns from consumer campaigners about the dwindling number of physical banks, described as being “cut to the bone”.
As Lloyds Banking Group announces the closure of 136 more high street branches, Link’s latest recommendations aim to fill the void and preserve cash access.
Sam Richardson, deputy editor of Which Money, commented: “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.”
Out of the 22 new hubs announced by Link, 20 are a direct response to local bank closures, while communities specifically requested the remaining two in Penistone, Yorkshire, and Knutsford, Cheshire.
The upcoming new hubs will be located in Alexandria, Annan, and Bishopbriggs in Scotland; Brigg in Lincolnshire; Caterham in Surrey; Falmouth in Cornwall; Glossop in Derbyshire; Helensburgh in Scotland; Houghton-le-Spring in Tyne and Wear; Hucknall in Nottinghamshire; Horsforth in Yorkshire; Leominster in Herefordshire; Harpurhey in Manchester; Nelson in Lancashire; Peterlee in County Durham; Seaton in Devon; Sleaford in Lincolnshire; Tunstall in Staffordshire; Thornbury in Gloucestershire; and Wymondham in Norfolk. Penistone was the 200th recommendation by Link.
Lloyds Banking Group plans to shut down 61 Lloyds, 61 Halifax, and 14 Bank of Scotland branches between May this year and March 2026. The group stated that customers can now utilise branches of other brands within the group for their in-person banking needs.
Once all previously announced closures are complete, the banking group will have 757 branches remaining. Link conducts assessments to understand how a bank branch closure will impact the community’s access to cash.
Communities can also request Link to conduct an assessment if they feel they need better access to cash. A banking hub is a shared space on the high street that can be used by customers of different banks.
The Government has set a target to roll out 350 hubs by 2029. According to Link, £79.5bn was withdrawn from ATMs connected to its network in 2024, marking a 1.2% decrease compared with 2023.
There is a growing trend of people visiting ATMs less frequently, but withdrawing larger amounts when they do. A Link survey found that 50% of individuals have recently encountered a business that did not accept or discouraged the use of cash.
Emma Reynolds, Economic Secretary to the Treasury, stated this week that the Government has no plans to mandate businesses to accept cash, telling the Treasury Committee, “We have no plans to regulate businesses to compel them to accept cash – big or small.”
Since 2022, Link has evaluated the impact of 1,784 bank branch closures. John Howells, CEO of Link, said: “The hubs will make a real difference for the millions of people who still rely on cash. We’re committed to keeping cash on the high street, and we’ll continue recommending banking hubs where they are needed.”
Gareth Oakley, CEO of Cash Access UK, added: “We already have 105 banking hubs open and these are proving extremely popular.”
Susannah Streeter, head of money and markets at Hargreaves Lansdown, noted: “Crucially, there needs to be enough cashpoints to serve the local community.”
Under new FCA rules, banks and building societies must assess whether changes to local services, such as branch or cash machine closures, leave communities without sufficient access to cash.
Residents, businesses, or charities can request a review if they believe their area lacks adequate access to cash. “If Link, the UK’s main ATM network, believes there is a hole in provision, additional cash services will need to be provided, either through a banking hub, post office or an ATM.”
