New bank hubs to open but the printers are missing

Published On Sep 17, 2024, 7:03 PM

The UK is set to open 15 new banking hubs following new regulations that enforce stricter rules on bank closures and access to cash. These hubs are shared spaces for various banks to provide basic banking services, but they are criticized for lacking essential facilities such as printers for customers to obtain paper statements. The initiative aims to support communities without local bank branches, especially as many people are becoming reliant on cash during the cost-of-living crisis. Despite the announcement, there are concerns about the quality of services being offered and the pace of the rollout of these hubs, which are viewed as insufficient to meet the needs of underserved communities.