The Financial Conduct Authority (FCA) has introduced new rules requiring banks and building societies to assess whether local communities have adequate access to cash services before closing branches. If access is found to be inadequate, banks must provide additional facilities. This initiative, which takes effect today, includes the rollout of new banking hubs across the UK, with 15 locations including Sheerness and Hailsham already announced. The move aims to ensure that communities retain access to cash and in-person banking services. Tulip Siddiq secured a commitment from banks to establish 350 banking hubs by 2029. The FCA notes that these measures are already positively impacting local communities in England, Scotland, and Wales.