A lifeline for your local bank?

A key report mapping out how the banks intend to help preserve nationwide access to cash and branches on the high street is expected to be announced shortly according to an article in This is Money

It is hoped it will pave the way for the rollout of shared branches or banking hubs. 

These are branches where the running costs are shared by the major banks with basic banking services provided by a third party such as the Post Office.

Although details of the report are being kept under tight wraps it is understood that banking hubs piloted in recent months in both Scotland (Cambuslang, near Glasgow) and England (Rochford, Essex) have proved great successes, revitalising both communities. 

As a result, new hubs are now planned for the New Year although it is understood that their exact number and location are still being argued over. 

Full article:

This is Money - After TSB unleashes another wave of branch closures: At last . . . a lifeline for your local bank


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