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Barclays, HSBC, NatWest, Lloyds, Nationwide, Santander, TSB and Danske Bank have agreed the approach, with others considering it. The Access to Cash Action Group (CAG) is a long-term commitment to ensure cash and banking access for communities where services are limited. From today, if a bank in the initiative decides to close a branch, it will inform Link. Bosses of the ATM network will see what closure means for cash provision – and if another solution is needed.

Link may, for example, suggest a refurbished Post Office or a bank hub. These would see banks work jointly to offer basic cash services, with spaces for customers to speak to their own provider. Each may offer its own services on different days of the week.

Communities will also be able to request a review of their needs from the summer. Cash use is 35 per cent below prepandemic levels but millions of people still use ready money daily while firms need a place to access and deposit it. Link has assessed most communities where closures have taken place over the past year and what services are planned for 2022.

They include free ATMs in Betchworth, Surrey; Bo’ness, West Lothian; Brentwood, Essex; Hugh Town, Isles of Scilly; Low Fell, Gateshead; Merthyr Vale, South Wales; Mosborough, South Yorks; Norwich; Putney, south-west London; Woolhampton, Berks; and Woodbury in Devon.

Meanwhile, the Post Office is ready to deliver improved cash services in up to 30 branches. Its current agreement with many banks lets customers do everyday banking at its counters. 

Bank hubs are planned for Acton, west London; Brixham, Devon; Carnoustie, Angus; Knaresborough, North Yorks and Syston, Leics, following pilot sites in Rochford, Essex and Cambuslang, South Lanarkshire. Other initiatives include “cashback without purchase” at 2,000 retailers by the end of the year, mobile and pop-up branches plus services for people who need to pay from home.

Natalie Ceeney, of CAG, said: “I’m confident that the new plan will lay the foundations for a positive future for cash access across the UK.”

Caroline Abrahams, from charity Age UK, said: “This is arguably the most promising development we’ve yet seen in ensuring that older people can continue to access cash.”

Nick Read, Post Office group chief executive, said: “It is very positive that the Post Office and banks continue to work together effectively to deal with such a fundamental issue.”

While John Howells, Link’s chief executive, said: “The UK is not ready to be a cashless society, and free access to cash remains vital for many consumers and communities.”

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