Plans for nine new shared banking hubs have been announced as the wave of bank branch closures seen last year continues into 2023.

Banking hubs are a shared banking space on the High Street which offer a counter service operated by the Post Office.

At the hubs, customers of all major banks in the UK–Barclays, Danske Bank, HSBC, Lloyds Banking Group, Nationwide, NatWest, Santander, TSB, and Virgin Money–can carry out regular cash transactions throughout the working week.

Community bankers at the hubs work on rotation, with a different banking provider available on each day of the week.

The move comes after HSBC announced plans to close a further 114 branches this year.

In December, the UK's High Street lenders joined forces to launch a non-profit company aimed at developing shared banking hubs.

A month before, consumer champion Which? said that around 660 branches would have closed across the UK by the end of 2022.

Link has recommended the nine new banking hubs, alongside six new deposit services. The move takes the total number of new cash services planned for the UK to 76, although out of 38 banking hubs planned only four have been opened so far.

“Access to cash and face-to-face banking services continues to be important for millions of people across the UK,” said John Howells, chief executive, Link. “Not everyone can or is able to go digital yet, so we’re pleased to announce new cash services to support these communities.”

Link has called for banks to open hubs in Barnoldswick (Lancashire), Clay Cross (Derbyshire), Earlestown (Merseyside), Heywood (Greater Manchester), Horwich (Greater Manchester), Oakham (East Midlands), Shoreham-by-Sea (West Sussex), Stapleford (Nottinghamshire), and Watton (Norfolk).

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