18 May 2026
A new independent review into access to face-to-face banking services across the UK has been launched amid concerns about the impact of bank branch closures on communities and vulnerable customers.
Commissioned by the Treasury, the review will examine how changes to in-person banking services are affecting people, businesses and local areas, particularly those less able to access digital banking.
The review will be chaired by Richard Lloyd, former Executive Director of Which? and former interim Chair of the Financial Conduct Authority (FCA), with findings expected by October 2026.
The Government said the review will assess:
- The impact of bank branch closures
- Which groups and communities are most affected
- Whether current protections go far enough
- What further action may be needed
For rural communities, where bank closures and reduced local services have long been a concern, the review may prove particularly significant.
Many rural residents already face challenges linked to limited public transport and patchy digital connectivity. In some areas, losing a bank branch can mean long journeys for face-to-face banking and added pressures for older residents, digitally excluded individuals and cash-reliant businesses. Rural businesses may also face difficulties accessing deposit services and cash handling facilities.
The Government also highlighted the continued rollout of banking hubs, with more than 275 announced across the UK and over 230 already open.
Alongside the review, ministers confirmed planned reforms to credit union “common bond” rules, aimed at helping credit unions expand membership and provide affordable financial services to more communities.
