Banking Hubs: What happens when the last bank in the high street closes?

With bank closures becoming increasingly commonplace, access to cash and in-person banking services are less accessible than they once were. So can a high street ever lose all of its banks? Well, one organisation aims to mitigate against that unwanted reality...

*Resource created on 24th March 2025. We aim to keep this resource as up to date as possible, however you can see the most recent guidance on banking hubs by visiting the Cash Access UK website, linked below.

Despite the rise of online banking and digital services, individuals and businesses still need access to cash and crucial banking services on high streets. 5-6 million people still rely on cash to fund their daily lives, and many businesses, including key sectors such as retail, use in-person bank branches to handle tasks such as deposits, major withdrawals, meetings with advisors, and other vital functions of a physical bank.

Closures to bank branches have been on the rise for a number of years, and many are fearful that their high streets will lose all their banks. This could have a major knock-on effect on footfall on a high street and exacerbate accessibility issues around cash and financial services in local communities.

Could this ever happen?

Cash Access UK, a not-for-profit set up in 2023 by Bank of Ireland UK, Barclays, Danske Bank, HSBC UK, Lloyds Banking Group, NatWest Group, Santander, TSB, and Virgin Money, is aiming to ensure that despite numerous closures, there will always be access to banking services even on a high street without a single bank through something called Banking Hubs.

What are banking hubs?

Banking hubs provide in-person banking services in communities where traditional bank branches have closed. Owned by Cash Access UK and operated by the Post Office, these hubs offer a counter service open Monday to Friday, 9 am–5 pm.

Customers from any bank can use the hubs to access basic cash services, such as deposits, withdrawals, and balance checks. Additionally, customers can meet with a community banker from their bank on designated days to discuss more complex banking matters.

What communities would get a banking hub?

LINK, the UK’s cash machine network, determines where banking hubs are needed by assessing the impact of bank branch closures on local communities. Communities can also request an assessment if they feel they need better access to cash services.

Banking hubs are prioritised for areas where there are no remaining bank branches, ensuring continued access to essential banking services.

What services do banking hubs provide?

Banking hubs offer a range of cash and banking services, including:

• Depositing cash (notes and coins) and cheques
• Withdrawing cash (notes and coins)
• Checking account balances
• Paying utility bills
• Topping up gas and electricity
• Managing PIN services
• Providing change-giving services for registered businesses

In addition to these services, community bankers from participating banks visit the hubs on a rotating schedule to assist customers with more complex banking enquiries, such as payments, transfers, and online banking support.

How would these hubs benefit the communities they are in?

Banking hubs help maintain financial inclusion by ensuring continued access to cash and in-person banking services. Their presence supports local businesses that rely on cash transactions and deposit services while also helping individuals who may not be comfortable with or able to use digital banking.

By keeping financial services within local high streets, hubs also contribute to maintaining footfall and sustaining the vibrancy of local communities.

What is a multibank deposit machine and how does it work?

Multibank deposit machines allow customers from multiple banks to deposit cash and cheques quickly and securely. These machines are part of the LINK network and operate with Chip & PIN authentication. They also provide standard ATM functions such as withdrawals, balance enquiries, and PIN management.

Customers of major banks, including Barclays, Lloyds, NatWest, HSBC, and Santander, can make free cash deposits using these machines. Work is ongoing to develop machines that also accept coin deposits. You can find further details here.

How can people see whether their area has a banking hub or ATM?

People can check if their community has a banking hub or nearby ATM by using the LINK Cash Locator tool. If a community believes they need a banking hub, they can request an assessment from LINK, which will evaluate the area’s cash access needs and determine if a hub or other services should be introduced.