London Daily

Focus on the big picture.
Monday, Aug 11, 2025

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
Street justice isn’t pretty but how else do you deal with this kind of insanity? Sometimes someone needs to standup and say something
Armenia and Azerbaijan sign U.S.-brokered accord at White House outlining transit link via southern Armenia
Barcelona Resolves Captaincy Issue with Marc-André ter Stegen
US Justice Department Seeks Release of Epstein and Maxwell Grand Jury Exhibits Amid Legal and Victim Challenges
Trump Urges Intel CEO Lip-Bu Tan to Resign Over Alleged Chinese Business Ties
Scotland’s First Minister Meets Trump Amid Visit Highlighting Whisky Tariffs, Gaza Crisis and Heritage Links
Trump Administration Increases Reward for Arrest of Venezuelan President Maduro to Fifty Million Dollars
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
OpenAI Launches GPT‑5, Its Most Advanced AI Model Yet
Embarrassment in Britain: Homelessness Minister Evicted Tenants and Forced to Resign
President Trump nominated Stephen Miran, his top economic adviser and a critic of the Federal Reserve, to temporarily fill an open Fed seat
The AI-Powered Education Revolution: Market Potential and Transformative Impact
Chikungunya Virus Outbreak in Southern China: Over 7,000 Hospitalized
French wine makers have seen catastrophic damage to vines that were almost ready to be harvested after the worst fires in more than 70 years burned through the south of the country
US Lawmaker Probes Intel CEO’s China Ties Amid National Security Concerns
Brazilian President Lula says he’ll contact the leaders of BRICS states to propose a unified response to U.S. tariffs
Trump Open to Meeting Putin as Soon as Next Week, with Possible Trilateral Summit Including Zelenskiy
Katy Perry and Justin Trudeau spark dating rumors, joining high stakes world of celeb-politician romances
US envoy Steve Witkoff arrived in Moscow to seek a breakthrough in the Ukraine war ahead of President Trump’s peace deadline
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Karol Nawrocki Inaugurated as Poland’s President, Setting Stage for Clash with Tusk Government
Trump Signals JD Vance as ‘Most Likely’ MAGA Successor for 2028
US Charges Two Chinese Nationals for Illegal Nvidia AI Chip Exports
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
U.S. Tariff Policy Triggers Market Volatility Amid Growing Global Trade Tensions
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
Representative Greene Urges H-1B Visa Cuts Amid U.S.-India Trade Tensions
U.S. House Committee Subpoenas Clintons and Senior Officials in Epstein Investigation
Sydney Sweeney Registered as Republican as Controversial American Eagle Ad Sparks Debate
Trump Accuses Major Banks of Politically Motivated Account Denials and Prepares Executive Order
TikTok Removes Huda Kattan Video Over Anti-Israel Conspiracy Claims
Trump Threatens Tariffs on India Over Russian Oil Imports
German Finance Minister Criticizes Trump’s Attacks on Institutions
U.S. Proposes Visa Bond of Up to $15,000 for Some Applicants
U.S. Farmers Increase Lobbying Amid Immigration Crackdown
Elon Musk Receives $23.7 Billion Tesla Stock Award
Texas House Paralyzed After Democrats Walk Out Over Redistricting
Mexican Cartels Complicate Sheinbaum’s U.S. Security Talks
Mark Zuckerberg Declares War on the iPhone
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
Tesla Seeks Shareholder Approval for $29 Billion Compensation Package for Elon Musk
Nvidia is cutting prices on its RTX 50-series graphics cards after sales slowed and inventories piled up
Ghislaine Maxwell Transferred to Minimum-Security Prison Amid Ongoing DOJ Discussions
U.S. Tariffs Surge to Highest Levels in Nearly a Century Under Second Trump Term
×