PARLIAMENTARY WRITTEN QUESTION
Banking Hubs (9 September 2024)

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of opening a banking hub in (a) St Ives, Cambridgeshire and (b) other market towns that have experienced bank closures.

Asked by:
Ben Obese-Jecty (Conservative)

The Government understands the importance of face-to-face banking to communities and high streets, and is committed to championing sufficient access for all as a priority. This is why the Government is working closely with industry to roll-out 350 banking hubs across the UK, which will provide individuals and businesses with critical cash and banking services.

Over 60 banking hubs are already open and Cash Access UK, who oversee banking hub rollout, expect 100 hubs to be open by the end of the year.

The specific location of these hubs is determined independently by LINK, the operator of the UK’s largest ATM network. LINK considers criteria such as whether another bank branch remains nearby, the local population, the number of cash-accepting businesses and the financial vulnerability of the community.

Answered by:
Tulip Siddiq (Labour)
13 September 2024