Extra banking hubs to open by the top of the yr – however Britain will nonetheless be falling quick

No less than 17 extra banking hubs are set to open by the top of the yr.

Gareth Oakley, chief govt of non-profit firm Money Entry UK, promised extra websites are on the best way after campaigners criticised the ‘snail’s tempo’ of the undertaking, which is designed to interchange 1000’s of branches which have closed.

Shared banking hubs have been hailed as an answer to the mass closure of branches, which threat chopping aged and susceptible clients off from accessing their cash.

Up to now solely seven of the 80 hubs which have been pledged are up and operating.

Britain’s excessive road banks have been closing their doorways en masse however constructing society Nationwide has vowed to maintain branches open 

Money Entry UK – which was set as much as set up hubs on behalf of the banks – mentioned it ought to take a yr to launch a website.

However Mail on Sunday evaluation discovered that 18 hubs introduced not less than 12 months in the past nonetheless haven’t opened their doorways.

The roll-out has been hit by delays as hubs battle to seek out appropriate websites and talks with landlords drag on. And banks, in the meantime, are getting ready to shut lots of extra branches earlier than the top of the yr.

Age UK director Caroline Abrahams mentioned: ‘Shared banking hubs are an incredible concept for locations the place all the person financial institution branches have closed, however they’re coming into being at a snail’s tempo, leaving some cities and villages with none bodily banking choices close by in any respect.’

Oakley mentioned branches is not going to shut till a banking hub – both short-term or everlasting – had been established.