London Daily

Focus on the big picture.
Wednesday, Aug 12, 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
China’s Kimi Launches AI-Focused Credit Card With Agricultural Bank of China and American Express
Former Labour Adviser Arrested on Suspicion of Spying for China Held Privileged Access as Top Party Donor
Turkish Parliament Passes Landmark Bill Granting Conditional Amnesty to Disarmed PKK Members
Donald Trump Warns FIFA Against Ousting Gianni Infantino Amid Revolt by Global Football Leaders
Jeff Bezos Joins Investor Group Closing In on $6 Billion Liverpool FC Stake
Police Conduct Cross-Border Raids Against Northern England Drug Network
Nicola Sturgeon Protested at Edinburgh Festival Fringe Event
Major UK Retail Chain Enters Administration With One Hundred Fifty-Four Stores Set to Close
Heathrow Renews Call for Runway Expansion After Losing Europe’s Busiest Airport Ranking
Government Condemns One Million Pound Thames Water Executive Bonus Amid Drought
NHS England Says More Than One Hundred Thousand Hepatitis C Patients Have Been Cured
UK Foreign Secretary Ed Miliband Calls for End to West Bank Settler Violence
UK Prepares for Deepest Partial Solar Eclipse Since Nineteen Ninety-Nine
UK Heatwave Triggers Amber Health Alerts as Economic Losses Reach Four Point Four Billion Pounds
UK Offers Electricity Bill Discounts to Communities Hosting New Power Infrastructure
Bank of England Expected to Hold Interest Rates at Three Point Seven Five Percent
UK Government Moves to Ban Subscription Traps and Misleading Retail Discounts
Andy Burnham Gives Councils New Powers to Block Betting and Vape Shops
UK Councils to Receive Sweeping Planning Powers to Ban New Vape and Betting Shops
Nicola Sturgeon Says She Has No Contact With Estranged Husband After SNP Embezzlement Case
Police Arrest Two Men After Aberdeenshire Defense Technology Office Break-In
Greater Manchester Councils Gain Powers to Restrict New Vape and Betting Shops
Coroner Finds Treasury Workplace Failures Contributed to Personal Assistant’s Suicide
English and Welsh Courts Ban Meta Smart Glasses Over Recording and Privacy Risks
Strait of Hormuz Disruption Could Double UK Inflation and Trigger Recession, Forecasters Warn
UK Expands Global Talent Visa Scheme to Support Research-Intensive Companies
UK Equity Funds Suffer Record One Point Six Billion Pound Outflow Amid Capital Gains Tax Fears
Three-Quarters of England Enters Drought as Fifth Summer Heatwave Raises Economic Risks
UK Hiring Stabilizes for First Time Since 2022 as Employers Adjust to Higher Payroll Costs
UK Chancellor Orders Whitehall Spending Cuts as Public Debt Exceeds Three Trillion Pounds
UK Manufacturing Output Records Fourth Straight Month of Growth
UK Condemns Russian Torture of Ukrainian Prisoners and Recruitment of Foreign Nationals
Long-Lost Royal Navy Warship HMS Tiger Found in English Channel After 118 Years
Northern Ireland Finance Minister Seeks Urgent Treasury Talks Over Regional Budget Pressures
UK Government Targets Subscription Traps and Misleading Discounts in New Consumer Rules
Alleged Cartel Boss Daniel Kinahan Extradited From Dubai to Face Criminal Charges
AI Chatbots Challenge Traditional News Consumption and Raise Job Concerns
Andy Burnham Government Promises Crackdown on Exploitative Business Practices
UK University Funding Model Faces Growing Pressure From Unsustainable Student Debt
Government Urged to Subsidise Energy Bills for Vulnerable UK Households
UK Military Spending Plans Threaten to Deepen Infrastructure Funding Gap
Israeli Government Rejects US Peace Framework for Gaza
New Labour Government Signals Closer Economic and Strategic Ties With European Union
Amber Heat-Health Alerts Issued Across England as Temperatures Threaten 36 Degrees
UK Economy Expected to Grow Despite Energy and Supply Chain Shock From Iran Conflict
Foreign Social Media Accounts Drove Disinformation During Belfast and Southampton Riots
Record Number of Migrants Cross English Channel in Single Vessel as Smugglers Deploy Mega-Dinghies
Russia’s A7 Builds a State-Linked Payments Network Beyond Western Sanctions
Reports of Mark Zuckerberg-Linked Superyacht Declining Rescue Assistance Draw Maritime Scrutiny
Preserving Three Banksy Artworks in London Has Cost Taxpayers Nearly £150,000
×