News

• Penistone in South Yorkshire has become the 200th location to be recommended for a shared banking hub
• One of 22 new hubs announced by LINK today.
• Government has committed to seeing 350 banking hubs open

LINK has today confirmed its 200th banking hub recommendation in Penistone, South Yorkshire. The town is the latest location which can expect the opening of the shared hubs which are proving popular across the country.

The recommendation follows a request from the community in Penistone. LINK visited the town and found that there was a significant reliance on cash and a need for new services.

Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone. When opened, the hub will consist of a counter service operated by Post Office employees, where customers of any bank can withdraw and deposit cash, make bill payments and carry out regular banking transactions. In addition, there will be private spaces where customers can speak to community bankers from their own bank for more complicated matters that require specialist knowledge or privacy. The banks will be working on a rotating basis, so there will be staff from different banks available on different days.

In December the 100th banking hub in Darwen, Lancashire, was opened by the Chancellor, Rachel Reeves.

You can see the details of all our assessments here.  

Since 2022, LINK has assessed the closure of 1,784 bank branch closures, and continues to receive community requests from across the country.

John Howells, CEO, LINK said:

“Our 200th recommendation is a big milestone in the delivery of banking hubs across the country. The hubs will make a real difference for the millions of people who still rely on cash. We’re committed to keeping cash on the high street, and we’ll continue recommending banking hubs where they are needed.”