London Daily

Focus on the big picture.
Saturday, Mar 14, 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
Middle East War Highlights Strategic Importance of Strong UK–Ireland Cooperation
Weak Growth Signals UK Economy Was Faltering Even Before Middle East Energy Shock
Marks & Spencer Tops UK Fashion Retail Rankings as Most Considered Brand
United States Launches Trade Investigation Into Allies Over Forced Labour Practices
United States Launches Trade Investigation Into Allies Over Forced Labour Practices
Russia Accuses Britain Over Storm Shadow Strike as London Reaffirms Ukraine’s Right to Self-Defence
Russia Accuses Britain Over Storm Shadow Strike as London Reaffirms Ukraine’s Right to Self-Defence
Royal Navy to Acquire Twenty Uncrewed Surface Vessels for Autonomous Warfare Testing
Russia Summons British and French Envoys After Ukrainian Storm Shadow Strike on Strategic Facility
Starmer Confirms Britain Will Maintain Sanctions on Russia Despite U.S. Policy Shift
UK Moves to Refine AI Definition in Investment Security Reform
UK Economy Stalls in January as Growth Unexpectedly Falls to Zero
Asian Energy Security Tested as Strait of Hormuz Disruption Threatens Oil Supplies
Iran Sets Three Conditions for Ending Regional War as Diplomatic Efforts Intensify
Tesla Secures Approval to Supply Electricity Directly to Homes Across Britain
Prince William Delivers Tribute to Australia’s Naval Alliance Amid Renewed Royal Spotlight on the Country
UK Foreign Secretary Travels to Saudi Arabia to Reinforce Support for Regional Allies
Putin’s ‘Hidden Hand’ May Be Assisting Iran in Conflict With Trump, UK Defence Secretary Warns
UK Sets April Deadline for Tech Platforms to Strengthen Online Protections for Children
Elon Musk Moves Into Britain’s Energy Market as Tesla Wins Licence to Supply Power
UK Watchdog Warns Fuel Retailers Against Profiteering Amid Iran War Price Surge
Report Claims Iran Used UK Charity Network to Expand Influence
United States and United Kingdom Establish Joint Standards for Counter-Drone Technology
Iran May Be Laying Naval Mines in Strait of Hormuz, UK Warns Amid Escalating Gulf Tensions
US Deploys Bunker-Buster Bombs to UK Airbase as Iran Conflict Intensifies
British Troops in Iraq Intercept Iranian Drones Targeting Coalition Base
Release of Mandelson Files Raises Tensions as UK Seeks Stable Relations With Donald Trump
UK Documents Reveal Starmer Was Warned About Mandelson’s Epstein Links Before Ambassador Appointment
Nearly Five Hundred UK Mortgage Deals Withdrawn in Two Days as Market Volatility Forces Lenders to Reprice
Three Cargo Ships Hit Near Iran as Attacks Spread to Strategic Strait of Hormuz
Why British Police Repeatedly Declined to Investigate Jeffrey Epstein’s UK Links
UK Parliament Ends Hereditary Seats in House of Lords, Closing Chapter on Centuries of Aristocratic Lawmaking
EU and UK Urge Israel to Act Against Rising West Bank Settler Violence Amid Regional Tensions
US Senator John Kennedy Says Keir Starmer Should Not Be Trusted for Military Advice Amid Iran War Debate
UK High Court Rejects Attempt to Revive Terrorism Charge Against Kneecap Rapper
Revolut Secures Full UK Banking Licence After Multi-Year Regulatory Wait
Kentucky’s Bench Boost Powers Wildcats Past LSU in SEC Tournament Opener
British Couple Die After Being Pulled From Water at Australian Beach During Family Visit
Global Energy Agency Announces Record Release of 400 Million Barrels to Stabilize Oil Markets Amid Hormuz Disruption
British Airways Suspends UK Repatriation Flights as Middle East Travel Disruption Deepens
US Forces Prepare Ordnance at RAF Fairford as Strategic Bombers Deploy for Middle East Operations
Nigel Farage Faces Criticism After Saying Britain Should Stay Out of Iran War
Landmark UK Trial Begins Over Sony’s PlayStation Store Pricing
UK High Court Rejects Bid to Challenge Britain’s Chagos Islands Agreement With Mauritius
Finnish Duo Triumphs in England’s Annual Wife-Carrying Race, Winning a Barrel of Ale
How U.S. and UK National Security Strategies Are Reshaping the Global Business Landscape
Green Party Gains Momentum as Labour Shifts Toward the Political Centre
Royal Navy Destroyer HMS Dragon Sets Sail for Eastern Mediterranean as Regional Tensions Rise
UK Homebuilder Persimmon Warns Iran Conflict Could Dent Property Buyer Confidence
Roman Abramovich Signals Legal Fight if UK Seeks to Seize Chelsea Sale Funds
×