Fifteen banking hubs have been announced as new rules to support cash access in communities take effect.

The hubs are spaces shared by several banks, where personal and business customers can access basic banking services and cash.

They have a counter service operated by the Post Office, and staff from major high street banks operate on a rotating basis to provide support to customers on more complex matters in a private space.

Deposit services provide small businesses with facilities to access and pay in banknotes and coins.

Once cash access and ATM network Link has recommended a new banking hub or deposit service, in the majority of cases these will be delivered by a bank-owned company called Cash Access UK.

To date, Cash Access UK has opened 81 banking hubs across the country.

Plans for the hubs were announced as new access to cash rules overseen by the Financial Conduct Authority (FCA) come into force.

Under the rules, banks and building societies must assess whether changes to local services, such as closing branches or cash machines, leave local communities lacking ways to take out or pay in cash.

Additionally, residents, businesses, local representatives and charities who feel there is a gap in cash access can request a review.

Link will be carrying out community assessments in accordance with the new rules.

The organisation said it will be able to recommend banking hubs where there is still one bank or building society branch in town, where it might not meet the needs of businesses and consumers.

Adrian Roberts, deputy CEO of Link, said: “Today is an important moment for the millions of people across the country who either rely on or prefer to use cash on a regular basis.

“The new rules that have come into effect today are great news for consumers and businesses and will ensure that access to cash continues to be available on our high streets for years to come.”

Link has reassessed 182 previously announced bank closures, where the branch has not yet closed its doors, under new the rules in force from Wednesday.

It said that, as a result, the following communities will have a banking hub delivered:

– Sidcup, London

– Normanton, West Yorkshire

– Hailsham, East Sussex

– Frome, Somerset

– Sheerness, Kent

– Whitley Bay, Tyne and Wear

– Rugeley, Staffordshire

– Newquay, Cornwall

– Market Harborough, Leicestershire

– Thetford, Norfolk

– Monmouth, Monmouthshire, Wales

– Morecambe, Lancashire

As a result of community requests received and assessed under the new rules, the following communities will have a banking hub delivered:

– Harpenden, Hertfordshire

– Huntly, Aberdeenshire, Scotland

– Yeadon, West Yorkshire