Banking Hubs
The question
To ask the Chancellor of the Exchequer, Pursuant to the answer of 9 June 2026 to Questions 6391, 6395 and 6396, what assessment she has made of whether the Government’s commitment to establish 350 banking hubs by the end of this Parliament will be sufficient to replace access to banking services lost through bank branch closures; and what estimate she has made of the number of additional banking hubs that would be required to ensure reasonable access to in-person banking services in all communities.
Answered by Rachel Blake
The Government is aware of the public’s concerns around access to banking services, which are currently not protected in legislation. Whilst there is evidence on a local level of individuals being affected by the closure of bank branches, the Government needs robust evidence from across the UK. The Government therefore commissioned an independent Review into Access to Banking Services. The Review will identify who is affected by changes to access to in-person banking services and how many people are affected. It will also look at what kinds of banking services are important for people to be able to access.
The Review is designed to inform future decisions by the Government and regulators as to whether further action is needed and what this might look like, including through the Financial Services and Markets Bill.
The Government continues to support industry’s rollout of 350 banking hubs by the end of this Parliament. Banking hubs are deployed by industry as a voluntary solution to LINK’s access to cash assessments, though they also provide some banking services.
Over 275 hubs have been announced and over 235 have opened. The commitment to 350 hubs is not a limit, and Cash Access UK will deploy a banking hub wherever LINK, the industry coordinating body responsible for making access to cash assessments, following a community request or branch closure, suggests one is appropriate.
HMT launched the Access to Banking Services Review Call for Evidence on 8 June and will run for 6 weeks, closing on 20 July, inviting input from consumers, businesses, charities, community groups, local authorities and industry across the UK. The evidence will inform recommendations, with findings due in October. Responses can be submitted here: https://www.gov.uk/government/consultations/access-to-banking-services-review-call-for-evidence.
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