Banking Hubs: North East Somerset and Hanham
The question
To ask the Chancellor of the Exchequer, what recent progress she has made with the banking industry on the roll out of banking hubs in North East Somerset and Hanham constituency.
Answered by Emma Reynolds
The Government recognises the importance of face-to-face banking to communities and high streets in North East Somerset and Hanham, and across the country.
This is why the Government is working closely with industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to deliver these hubs by the end of this Parliament.
Over 230 hubs have been announced so far, and over 170 are already open.
The location of these hubs is determined independently by LINK, the industry coordinating body responsible for making access to cash assessments. When a cash service such as a bank branch closes, or if LINK receives a request directly from a community, LINK assesses a community’s access to cash needs. This assessment may lead to a recommendation for the establishment of a banking hub in that community.
A temporary banking hub is now open in Keynsham, while the search for a permanent location is underway.
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