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

The ATM network is set to open 14 more banking hubs to fill the void of high-street branch closures. Is one opening near you and can you use banking hubs?

With a line of people waiting behind her, the mid adult woman smiles as she hands her debit card to the unrecognizable male bank teller.
(Image credit: SDI Productions)

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 branches in the next two years, RBS is to shut a fifth of its shops and we will see 49 NatWest stores disappear this year

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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. 

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Banking hubs locations
Bathgate, West Lothian, Scotland
Cowdenbeath, Fife, Scotland
Linlithgow, West Lothian, Scotland
Newton Stewart, Dumfries, Scotland
Rothesay, Isle of Bute, Scotland
Wick, Highland, Scotland
Littlehampton, Sussex, England
Alcester, Warwickshire, England
Ashbourne, Derbyshire, England
Sheffield, South Yorkshire, England
Spennymoor, County Durham, England
Stanley, County Durham, England
Warwick, Warwickshire, England
Woodbridge, Suffolk, England

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.

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Deposit services
North Berwick, East Lothian, Scotland
Blyth, Northumberland, England
Brynmawr, Blaenau Gwent, Wales
Chesham, Buckinghamshire, England
Kenilworth, Warwickshire, England
Liskeard, Cornwall, England
St Ives, Cambridgeshire, England
Stow-on-the-Wold, Gloucestershire, England
Wadebridge, Cornwall, England

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
Vaishali Varu
Staff Writer

Vaishali has a background in personal finance and a passion for helping people manage their finances. As a staff writer for MoneyWeek, Vaishali covers the latest news, trends and insights on property, savings and ISAs.

She also has bylines for the U.S. personal finance site and Ideal Home, GoodTo, inews, The Week and the Leicester Mercury

Before joining MoneyWeek, Vaishali worked in marketing and copywriting for small businesses. Away from her desk, Vaishali likes to travel, socialise and cook homely favourites