Celebrating our millionth Banking Hub transaction

We’ve reached an incredible milestone: hitting a total of one million transactions carried out in Banking Hubs throughout the UK.

Banking Hubs are shared face-to-face banking facilities which are accessible to all. This milestone shows that access to cash and banking services remains vital for millions of individuals across the UK, despite more people choosing to bank and make payments digitally.

In addition to the milestone, Cash Access UK welcomes new regulations introduced by the Financial Conduct Authority to protect access to cash that come into effect from today. The regulations build on the voluntary arrangements put in place through industry collaboration over two years ago, which have been working well.

Cash Access UK will continue to work hard to set up Banking Hubs in the communities that need them most. To date, Cash Access UK has opened 81 Banking Hubs across the UK and aims to reach 100 by the end of this year. A further 43 Deposit Services, which allow small businesses to quickly and securely bank and access cash, have also been rolled out too and 100 of these will be available by the end of the year.

Gareth Oakley, CEO, Cash Access UK: “We’re delighted to see the difference that Banking Hubs are making to local communities. In this week alone, we’ve already opened five new Hubs in Abertillery, Filey, Haverhill, Royston and Thorne. The millionth transaction is an important milestone and reflects the growing popularity of Hubs, but critically the legislation reflects the long-term commitment to protecting access to cash for as long as people need it. We hope to have the hundredth open by the end of the year and look forward to helping millions more customers.”

Ross Borkett, Banking Director, Post Office: “I am delighted that Postmasters operating the Banking Hubs across the UK, together with the community bankers, have supported one million transactions. We are proud of their leading role in safeguarding a secure and sustainable future for cash together with our partners at Cash Access UK. I look forward to our serving millions more customers in Hubs in the years ahead as we work with partners in Government and the industry towards the Government's goal of opening 350 hubs”

Economic Secretary to the Treasury, Tulip Siddiq: “The Government is bringing banking back to the high street. That is why we are working with industry to deliver on our commitment to open 350 new banking hubs in towns and villages across the country to support families, businesses and local communities.”