New Banking Hubs Announced Amid Stricter Cash Access Rules

Fifteen new hubs to open as Financial Conduct Authority's regulations take effect, but concerns arise over facility standards.

Fifteen new banking hubs have been announced across the UK to improve cash access in communities affected by bank branch closures.
New FCA rules require banks to assess local cash access needs before closing branches, ensuring reasonable access to withdrawal and deposit services.
Many new hubs lack essential facilities such as printers, raising concerns about the quality of services provided.
Community members and organizations can now request assessments to identify gaps in local cash access, prompting banks to address these needs.
To date, 81 banking hubs are operational, with a government commitment to establish 350 hubs by the end of the current Parliament.