London Daily

Focus on the big picture.
Thursday, Mar 26, 2026

High street banks commit to cash access guarantee amid branch closures row

High street banks commit to cash access guarantee amid branch closures row

LINK, the UK's biggest cash machine network, will be given £4m in start-up funding by major banks to get the joint venture up-and-running, Sky News learns.

Britain's biggest high street banks will next week unveil a venture guaranteeing access to cash amid a furore over the closure of thousands of branches across Britain.

Sky News has learned that lenders including Barclays, Lloyds Banking Group and NatWest Group have agreed to fund the joint provision of cash services in communities which face being left without them.

Details of the project will be disclosed alongside the publication of a report on the Community Access to Cash Pilot programme, which has involved testing a range of services in eight locations.

NatWest is also among the banks involved


Industry sources on Friday described the commitment that would be unveiled next week as "unprecedented".

It is expected to cost the major banks millions of pounds annually to run.

Nevertheless, the project is being established on a voluntary basis and one insider said there was a desire for the Financial Conduct Authority to give the participating banks a statutory duty to provide continued access to cash.

The new joint venture would involve LINK, Britain's biggest cash machine network, conducting an independent assessment of prospective branch and ATM closures in the context of a local community's cash needs.

The criteria used to make the assessment would include a location's population density and its level of economic activity.

Where any closures would imperil access to cash, new services such as the provision of a shared face-to-face outlet could be commissioned.

TSB recently announced the closure of 70 more branches


This may be achieved through additional banking services in Post Office branches, or a new shared bank hub or kiosk.

LINK is to be handed £4m in start-up funding by the banks, which also include HSBC and Santander UK, to get the project off the ground, the insider added.

Although cash usage is dwindling, largely because of online payments, there remain serious concerns about the impact on elderly and vulnerable people.

The new commitment from the major banks is expected to take effect immediately.

The industry's latest wave of branch closures was announced last month by TSB, which said it would close 70 of its 290 locations across the UK.

"In recent years, the bank has seen a significant decrease in branch use, with the average number of transactions per branch falling since January 2019 and no prospect of branch transactions returning to pre-Covid levels," it said.

This week, the consumer group Which? demanded an immediate moratorium on further branch closures, citing analysis suggesting that banks "may be rushing to close branches before solutions to protecting access to cash can take effect".

In a letter to the members of the Cash Action Group, Which? called for the kind of independent assessment of impacted communities' cash needs that the joint venture appears to be ready to provide.

Which? also said that a summary of such assessments should be made public, with banks forced to pause their branch closure programmes until legislation to preserve access to cash has been implemented.

The issue of branch closures has become a toxic one for the banking industry since the aftermath of the 2008 financial crisis, when the sector was saved from collapse by the provision of hundreds of billions of pounds of state financial support.

Lenders have repeatedly cited dwindling branch usage and the soaring take-up of digital banking as trends which have made large swathes of their physical branch infrastructure redundant.

A number of commercial ventures, including OneBanks, have emerged with the objective of ensuring continuity of access to banking services for the customers of all lenders.

A spokesman for the Cash Action Group declined to comment on Friday.

Newsletter

Related Articles

0:00
0:00
Close
UK Government Rejects Cover-Up Claims After Theft of Former PM Aide’s Phone
Cyprus Opens Strategic Talks with UK Over Sovereign Base Areas
UK Faces Risk of Sharp Inflation Surge Despite Stable Pre-Crisis Figures
UK Police Arrest Two Over Suspected Antisemitic Arson as Iran Link Investigated
UK Inflation Holds at Three Percent Ahead of Oil Price Shock from Iran Conflict
UK Fuel Prices Face Upward Pressure as Global Oil Trends Raise Cost Outlook
Girlguiding UK Sets September Deadline for Membership Policy Change Affecting Trans Participants
Germany and UK Accelerate Wind Power Expansion to Strengthen Energy Security
UK Moves to Ban Cryptocurrency Donations to Political Parties Over Foreign Influence Concerns
UK and Turkey Finalise Major Air Defence Agreement Worth Billions
Apple Introduces Mandatory Age Verification for iPhone Users in the UK
Diverging Views Emerge Over Meghan Markle’s Planned Australia Appearance
Trump Signals Frustration with UK Leadership Amid Diverging Approaches to Iran Conflict
UK Government Takes Control of Hunterston B as Landmark Nuclear Decommissioning Begins
UK Public Inflation Expectations Jump Sharply in March, Raising Pressure on Bank of England
UK Ministers Warn Expanded North Sea Drilling Would Deepen Exposure to Global Energy Volatility
Delayed UK Defence Investment Plan Leaves Suppliers Under Severe Financial Strain
Can Iran Strike the UK? Assessing the Real Military Threat as Conflict Escalates
Sanctioned Iranian Banker Linked to Luxury Marbella Villa Through UK Corporate Structure
Casey Bloys Navigates HBO Max UK Launch, Paramount Integration and Industry Buzz Over Netflix Meeting
Iran Conflict Sparks Sharp Turbulence in UK Mortgage Market, Reaching Pandemic-Era Disruption Levels
Major Donor Urges University of Kentucky to Reconsider Mitch Barnhart’s Post-Retirement Role
United Kingdom Moves to Lead International Effort to Reopen Strait of Hormuz
UK Police Investigate Targeted Attack on Jewish Ambulance Vehicles
UK Police Investigate Targeted Attack on Jewish Ambulance Vehicles
Senior UK Advocate Criticises Barnhart Retirement Appointment, Calls for Reconsideration
UK Finds No Evidence of Direct Iranian Threat to Britain, Says Prime Minister Starmer
Assessing Iran’s Strike Capability and the UK’s Readiness Amid Rising Tensions
NATO Unable to Confirm Iran’s Role in Strike on UK-US Base as Tehran Denies Involvement
University of Kentucky’s Youling Xiong Receives SEC Faculty Achievement Award for 2026
Trump Highlights Satirical Portrayal of UK Leadership Amid Talks with Prime Minister Starmer on Iran Conflict
Trump Highlights Satirical Portrayal of UK Leadership Amid Talks with Prime Minister Starmer on Iran Conflict
UK Fuel Prices Surge Toward Crisis Levels as Experts Warn of Further Sharp Increases
UK Fuel Prices Surge Toward Crisis Levels as Experts Warn of Further Sharp Increases
Duchess of Sussex Secures ‘As Ever’ Trademark Rights in Australia Ahead of High-Profile Visit
UK Reaffirms Security as Officials Reject Claims of Immediate Iranian Missile Threat
Rising Middle East Tensions Spark ‘Trumpflation’ Debate Over Impact on UK Households
UK Minister Says No Evidence Iran Can Strike Europe Despite Heightened Warnings
British-Iranians Voice Safety Concerns to Authorities as Regional Conflict Intensifies
Confirmed Meningitis Cases Linked to Kent Outbreak Revised Down to Twenty
UK Government Sees No Evidence Iran Can Strike London Amid Rising Regional Tensions
Debate Grows Over Recognition of Indigenous Cultural Icons in the United Kingdom
Iran Missile Launch Toward Diego Garcia Raises Questions After Failed Strike on US–UK Base
Donald Trump Amplifies Viral Satirical Clip Highlighting UK–US Political Dynamics
UK Satirical Show Draws Attention with Sketch Referencing Trump and Prince Andrew
Meghan Markle’s Possible UK Return Sparks Renewed Attention on Sussex Role
Starmer Convenes Urgent Talks on Cost-of-Living Pressures Linked to Iran Conflict
Starmer Convenes Urgent Talks on Cost-of-Living Pressures Linked to Iran Conflict
UK Investors Eye Bargain Shares Ahead of ISA Deadline Amid Market Volatility
UK Investors Eye Bargain Shares Ahead of ISA Deadline Amid Market Volatility
×