Face-to-face banking access to be reviewed – Martin Lewis says 'we need to protect it'

Commissioned by Lucy Rigby, economic secretary to the Treasury, the review will gather evidence on the impact of branch closures, identify who is most affected, and look at where further action may be needed to protect access to face-to-face banking.

It follows the announcement of the Financial Services and Markets Bill during the King's Speech on Wednesday 13 May. This bill will include a provision giving the Treasury the power to "act swiftly" to protect face-to-face banking services if needed.

Many major banks have announced closures this year and going into 2027. Lloyds Banking Group, for example, is closing 100s of branches over the course of the year, with other major banks doing the same.

Martin Lewis: 'For many older and vulnerable people, in-person banking is crucial'

In a post on social media platform X on Thursday 14 May, Martin welcomed the announcement and said:

Recommendations will be made to the Government later this year

The 'Access to Banking' review will be chaired by former director of consumer group Which?, Richard Lloyd, who will provide a report and recommendations to the Government by October 2026.

Commenting on the review, Mr Lloyd said: "Banking is an essential service that every consumer and community in the UK needs. I hope to hear from as wide a range of views as possible, and welcome the Treasury's commitment to taking action should this independent review find evidence that new legislation is needed."

The Bill will also take forward some of the credit union reforms announced in March, making it easier for credit unions in Great Britain to expand and broaden their membership.

Helen Undy, chief executive of the Money and Mental Health Policy Institute – the charity founded by Martin – said: "For many of us with mental health problems, face-to-face banking services are hugely important in our day-to-day lives.

"But too many people find that their closest bank branch is miles away and inaccessible via public transport. And if you have a mental health problem, it can be an impossible task to get specialist support from your bank on the phone or online."

Alternative ways to bank face-to-face

If your local bank branch is closing, here's what you might be able to try:

• Head to a nearby Post Office. Most can withdraw cash and make deposits into their bank account via the Post Office.

• Check if there's a 'banking hub' in your area. Banking hubs are shared spaces run by the Post Office – but separate to actual Post Offices – where customers of multiple banks can deposit and withdraw cash, get face-to-face support and manage their accounts. As of Thursday 14 May, there are 237 hubs up and running around the UK, with 39 additional hubs planned.
  
  You can use the Post Office's branch finder to check if there's a hub near you (if there is, it'll show up in the list with a "banking hub" label).

• Check if a 'community banker' is visiting your area. Some banks offer community bankers that have a dedicated office space in a local venue. You can chat to them in private and they can offer support with account enquiries and help you make payments. Usually you can enter your postcode into the relevant section of your bank's website to find your local venue.

For full details on your options, see our Bank branch alternatives guide.

Additional reporting by the Press Association.