UK’s bank branch network has been cut to the bone, say consumer campaigners
UK’s bank branch network has been cut to the bone, say consumer campaigners
Share:
Cash access network Link has confirmed its 200th banking hub recommendation to help plug gaps in the cash access network, as consumer campaigners raised concerns about access to physical banks being “cut to the bone”. Link’s latest wave of recommendations will help to fill potential holes left behind and maintain cash access as banking giant Lloyds makes cuts to its branch network.
Lloyds Banking Group announced on Wednesday that it will shut 136 more high street branches. Sam Richardson, deputy editor of Which? Money, said: “More people are banking digitally nowadays, but there remains a significant minority of consumers across the country who still rely on bank branches to access vital face-to-face services.
“The UK’s bank branch network has been cut to the bone in recent years, often leaving people struggling and having to travel long distances to access cash or banking services. The UK's bank branch network has been cut to the bone in recent years, often leaving people struggling and having to travel long distances to access cash or banking services.
“It’s therefore vital that banking hubs are rolled out quickly so consumers can feel their effects. The Government has committed to opening 350 hubs in the next few years – and it should be prepared to revise that figure upwards if necessary.”.
