Economic Secretary to the Treasury Lucy Rigby has opened the UK's 250th banking hub in Chepstow, marking another milestone in Labour's commitment to protect access to cash and face-to-face banking services.
The new hub will allow local residents and businesses to withdraw and deposit cash, pay in cheques and speak directly to community bankers from major high street banks. It also includes a free-to-use external ATM providing 24-hour access to cash.
Rigby said:
"Access to cash & banking services is core to financial inclusion."
She added that Labour had made a manifesto commitment to work with industry to deliver at least 350 banking hubs over the course of this Parliament.
Chepstow keeps face-to-face banking
The new hub comes ahead of the closure of Chepstow's last remaining traditional bank branch next month.
Without the new service, residents needing branch banking would have faced travelling around eight miles to Lydney, a journey the Treasury says can take roughly 30 minutes by public transport and cost around £4.
The Chepstow hub is owned and operated by Cash Access UK, the not-for-profit organisation established by major banks to provide shared banking facilities in communities affected by branch closures.
Rigby officially opened the hub alongside local MP Catherine Fookes.
More than eight million transactions this year
Banking hubs are becoming increasingly important as conventional branches disappear from many town centres.
Cash Access UK says more than eight million transactions have been handled across banking hubs and deposit services since the beginning of 2026, demonstrating continued demand for face-to-face services and access to physical cash.
The hubs typically provide a shared counter service throughout the week, while individual banks send community bankers on different days so customers can discuss more complicated issues.
Labour targeting 350 hubs
The Government says the opening of the 250th hub puts it well on the way towards its commitment to secure at least 350 hubs during this Parliament.
Rigby said:
"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."
Her ministerial responsibilities include banking, financial inclusion, access to cash and consumer finance policy.
Supporting local businesses as well as residents
The Treasury estimates that the Chepstow hub will support thousands of residents and more than 100 local businesses.
That is particularly important for small firms that still handle significant amounts of cash and need somewhere nearby to deposit takings safely.
The Government has also commissioned an independent review of access to in-person banking services, with recommendations expected in October.
For Rigby, the opening is about ensuring that the shift towards digital banking does not leave behind older people, vulnerable customers, small businesses or communities that still rely on physical cash and face-to-face support.
