Welsh town becomes home to UK’s 250th banking hub

Nation.Cymru staff/agencies

A Welsh town has become home to the UK’s 250th banking hub as efforts continue to maintain access to cash and face-to-face services following widespread bank branch closures.

The milestone hub has opened in Beaufort Square, Chepstow, where customers of major banks will be able to carry out everyday transactions and speak to representatives from their own bank.

Cash Access UK, the organisation set up to protect access to cash, said the opening marked the 250th banking hub established across the UK.

Like other hubs, the Chepstow site offers a counter service operated by the Post Office, allowing customers of major banks to make regular transactions.

A community banker service will also operate, with representatives from different banks available on designated days to help their customers with more complex issues.

Secretary of State for Wales Stephen Kinnock said: “People and businesses across Wales want services such as banking to be available in their local communities – and that’s what we are delivering via the new hubs.

“The UK Government is determined to make local services work better for people, and I’m delighted for the people of Chepstow that this new hub will serve their community so that face-to-face banking continues long into the future.”

Banking hubs have increasingly been used to fill gaps left by the closure of traditional branches and the growth of digital banking, amid concerns that some communities could be left without convenient access to cash.

Cash Access UK said more than eight million transactions had been supported through banking hubs and deposit services since the beginning of 2026, with cash withdrawals proving particularly popular.

A total of 45 banking hubs have opened so far this year, while 285 have been recommended and further openings are planned.

Gareth Oakley, chief executive of Cash Access UK, said: “I’m happy to announce the opening of Chepstow as our 250th hub, ensuring crucial access to cash and face-to-face banking services for residents and businesses across the local community.

“The services are hugely popular, with a busy front desk to support cash transactions and a rotating community banker to support face-to-face banking needs.

“This year we’ve opened a new hub every week, so we see the real difference it makes to the local community and are proud to be bringing this service to Chepstow.”

Economic Secretary to the Treasury Lucy Rigby, who was officially opening the hub on Friday, said: “This new banking hub means that local residents will still have access to important services they rely on.”

The UK Government has committed to delivering at least 350 banking hubs during the current Parliament.

Ms Rigby added: “We’re well on our way to opening 350 hubs across the UK – a manifesto commitment and a key part of our Financial Inclusion Strategy.”

The expansion comes as the use of cash continues to decline. According to UK Finance, cash accounted for 8% of payments in 2025, compared with 9% in 2024 and 45% a decade earlier.

It predicts cash will account for around 4% of UK payments by 2035, equivalent to approximately two billion transactions.

Demand

Natalie Ceeney, chairwoman of Cash Access UK, said the number of transactions being made through hubs demonstrated that demand for in-person banking remained.

She said: “Every one of our 250 banking hubs exists because millions of people and small businesses across the UK need somewhere to walk in, deposit their takings, withdraw cash, or sit down with someone face-to-face about their banking.

“Since the start of 2026, more than eight million transactions have been supported across all banking hubs and deposit services, showing that face-to-face banking and access to cash is still vital for those that need it.

“We are working together with the major UK banks to provide this service and will continue to do so in order to support communities across the UK.”

John Howells, chief executive of cash access and ATM network Link, said: “Access to cash and face-to-face banking remains vital for millions of people and businesses who rely upon these services.

“We are proud of Link’s role in recommending 283 hubs to date, alongside 192 other cash services to make it easier for businesses to bank cash.

“While cash may no longer be the default payment method for most people, we know that when payment and digital systems fail, cash provides the necessary resilience.”

Milestone

Ross Borkett, financial services director at the Post Office, said the 250th opening demonstrated how important the banking hub model had become.

He said: “Banking hubs now help thousands of people and businesses access everyday banking services locally, while also providing face-to-face support from major banks when it matters most.

“This milestone reflects the trusted role Post Office and postmasters continue to play at the heart of communities.

“We are proud to be working with Cash Access UK and our banking partners to keep cash and banking services on the high street, supporting local economies and ensuring customers can access the services they need close to home.”

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