Locations revealed for new shared banking hubs
, and was told it had been "a lifeline" for many people living in the area after the last branch in town closed.
The review studies the cash needs of the community, such as how easy it is to travel to the nearest alternative service, as well as the demographics and vulnerability of local residents. The criteria are set by a group of banks and consumer representatives.However, it can take months for these new hubs to open. As well as finding a suitable premise, often changes are needed to ensure it is fully accessible and secure enough for banking services.
Mark Aldred, of banking technology company Auriga, said: "As we go into a cost of living crisis that's hitting households and businesses alike, these shared hubs are good on paper but could go further and faster." In addition to the hubs, withdrawal and deposit machines - which are unstaffed but can allow businesses to cash in their takings - will be placed in libraries and community centres and available during their opening hours.
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