Chancellor Opens 100th Banking Hub in Time for Christmas
by UK News and Communications December 13, 2024 09:00
London, United Kingdom – The Chancellor of the Exchequer, Jeremy Hunt, today opened the 100th banking hub in the UK, in time for Christmas.
The new hub, located in the city of Liverpool, is part of a government initiative to improve access to banking services for people and businesses across the country.
The banking hubs offer a range of services, including:
- Cash withdrawals and deposits
- Check cashing
- Balance inquiries
- Money transfers
- Loan applications
They are also designed to be accessible to people with disabilities and those who do not have internet access.
The Chancellor said: “I am delighted to open the 100th banking hub in the UK. This is a major milestone in our efforts to improve access to banking services for people and businesses across the country.”
“These hubs are providing a vital service to communities that have been underserved by traditional banks. They are helping people to manage their finances, save money, and access credit.”
The banking hubs are being operated by a consortium of banks, including Barclays, HSBC, Lloyds Banking Group, NatWest, and Santander.
The banks have invested £100 million in the initiative, and the government has provided a further £20 million.
The banking hubs are expected to serve over 1 million people and businesses over the next five years.
The opening of the 100th hub comes at a time when many people are struggling with the cost of living crisis.
The hubs are providing a lifeline to people who need access to banking services but who are unable to afford the fees charged by traditional banks.
The government has pledged to continue to support the banking hub initiative, and to open more hubs in the future.
References:
Chancellor opens 100th banking hub in time for Christmas
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