Location of 250th banking hub introduced as Santander confirms closures

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Your assist makes all of the distinction. Learn extra 4 new banking hubs have been confirmed by money entry physique Hyperlink, taking the overall quantity it has really helpful to 250.

The announcement was made as Santander mentioned it will shut 44 of its financial institution branches – and the newly-announced banking hubs will open in 4 places the place Santander has introduced closures.

Hyperlink mentioned its 250th banking hub suggestion is in Leighton Buzzard in Bedfordshire.

The three different hubs newly-recommended are in Ormskirk in Lancashire, Wilmslow in Cheshire and Whitehaven in Cumbria.

Santander has mentioned it plans to shut branches in these places by the tip of January 2027.

Banking hubs have helped to plug gaps in money entry as there have been waves of financial institution department closures.

They're a shared banking area, the place prospects of various banks can do their banking in a single place.

The hubs will include a counter service the place prospects of any financial institution can withdraw and deposit money, make invoice funds and perform common banking transactions.

There will even be areas the place prospects can communicate to neighborhood bankers from their very own financial institution. Workers from totally different banks will probably be obtainable on totally different days.

In December, Money Entry UK opened the two hundredth banking hub open in Billericay in Essex, and there at the moment are 210 hubs throughout the UK.

John Howells, Hyperlink chief govt, mentioned: “Nearly 5 years in the past, the primary two banking hubs opened as a part of a pilot to see how we might higher defend entry to money.

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“We’re delighted to announce the advice of the 250th hub at this time.

“The hubs, alongside different options, are making a big distinction and serving to communities to readily entry and deposit money with ease.”

Sam Richardson, deputy editor of Which? Cash, mentioned: “Financial institution department closures have actual impacts on native communities, particularly on these prospects who depend on in-person companies and aren’t but prepared or keen to make the change to digital banking.

“These current closures are a reminder that branches are nonetheless underneath risk and it’s clear that banking hubs will play an enormous position in how we handle our cash.

“Nonetheless, not all hubs present the identical companies, that means some prospects can nonetheless be pressured to journey lengthy distances to entry the companies they want.

“Given the significance of banking companies to native communities, the Authorities and banking trade ought to work collectively to plug gaps so shoppers can depend on hubs for his or her banking wants and be prepared to extend the goal of 350 open hubs by the tip of this parliament if wanted.”