We’ve published our first ever annual review

Our first annual review – published today - celebrates our  growth and development in 2023 and highlights our determination to bring easy access to cash and basic banking services to communities across the UK.

At the beginning of 2023, Cash Access UK was made up of a team of just 16 colleagues and was still in its temporary home under UK Finance, with four Banking Hubs open.

By the end of the year, 31 Banking Hubs were in operation and our team had more than doubled in size to 41. This was only possible with the support and collaboration of our Member firms and suppliers, the Post Office and LINK and our many community advocates.

Today, we have opened 56 hubs and  implemented over 30 deposit solutions across the UK and we are actively growing our purposeful, committed, diverse and energised workforce.

With 8 out of 10 customers saying they would likely recommend a Banking Hub to family or friends and 90% of service users describing their local hub as extremely important to the community, customer satisfaction is at the heart of all we do. This exceptional customer satisfaction is due in no small part to the people who greet, serve and support customers every day.

Cash has been in steady decline in recent years as many people have turned to different ways of paying. Back in 2006, cash accounted for 62% of payments. It’s now just 14%, and some forecast it will decline to just 6% by 2031. But that’s still billions of payments, and the people who rely on cash are often some of the most vulnerable people in society.

Cash Access UK is at the forefront in developing innovative face-to-face cash and banking solutions for customers who rely on these services. Our pioneering approach has attracted much interest from countries across the world.

Our 2023 annual review tells our story so far. It details how we build on our learning to push the boundaries of what’s possible to ensure communities are able to continue to access essential cash services.

Gareth Oakley, Chief Executive Officer: “Cash Access UK is at the start of its journey. But what a journey it’s been. The early foundations set out in our 2023 Annual Review are already proving their worth. By the end of this year, we estimate that more than 100 communities will benefit from Banking Hubs giving them the long-term access to cash and banking they need to thrive.

There continues to be enormous and welcome interest in our work. Money Saving Expert, Martin Lewis has officially opened one of our hubs and many journalists continue to visit our sites to see our services in action.

Parliamentarians from across the House have backed the national rollout of Banking Hubs at both policy and constituency level.

We do not take this support for granted. As we embark on a second year which promises to be every bit as exciting and challenging as the first, we will continue to listen, learn and do our very best to deliver much-needed services into communities across the UK.”