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More banking hubs are needed as they serve as a vital lifeline for older people after some 6,000 branches shut their doors across the last decade, as MP has said. Alan Mak MP, a former treasury minister of the Conservative Party, will propose a change in the law that would expand the country’s network of banking hubs so customers have greater access to face-to-face banking services.

LINK, the organisation that decades where banking hubs can open, has recommended sites for some 276 new outlets across the country. But Mr Mak argues that many communities could still miss out altogether because current rules mean that areas with access to cash – such as having a Post Office or cash machine within one kilometre of the local high street – might not be shortlisted.

In a new law set to be laid before Parliament, Mr Mak will seek to make it so that access to face-to-face banking services, not just access to cash or cash machines, will be considered when deciding where banking hubs can open.

His Bill’s aim is ensuring every town or village with a population over 10,000 is eligible for face-to-face banking services through a banking hub.

A banking hub is a shared space on the highstreet in which customers from several different major banks may use the same space to perform everyday banking services, such as depositing cash, withdrawing money, and checking balances. They are normally operated by the post office.

The Bill is supported by AgeUK and Which?, the consumer rights group, plus senior MPs including former Chancellor Sir Jeremy Hunt, former Chief Secretary to the Treasury Laura Trott, and current Shadow Business Secretary Andrew Griffith.

Mr Mak said: “Conservatives put access to cash into law, and that’s made a real difference. Now we must go further and put access to face-to-face banking into law, so people can speak to a staff member in-person for help and advice.”

He added: “My Bill is a practical, common-sense way to expand banking hubs into communities where they are needed, especially by small business owners, older people, people with disabilities, and people who are digitally or socially excluded.”

Mr Mak said: “Too often, if there’s a Post Office or cash machine nearby, a community is judged to have sufficient access to banking services. But for many people, that is not enough.”

Caroline Abrahams, charity director at AgeUK, said: “Alan’s Bill is an important step forward in protecting access to face-to-face banking services for older people. The ability to access in-person banking remains hugely important, and as branches continue to close, more people are being forced to travel further and find it harder to manage their money which is unfair and unsustainable.”

Sam Richardson, deputy editor of Which? Money, said: “Which? research has highlighted the scale of bank branch closures across the UK and the significant impact this is having on communities. Banks and building societies have closed 6,719 branches since January 2015, at a rate of around 53 each month.”

He added: “These closures disproportionately affect older people, people with disabilities and those who are less digitally confident, as they rely on in-person services to manage their financial needs.”

A treasury spokesperson said: “We recognise the vital role that face-to-face banking plays for communities, which is why we are working closely with industry to roll out 350 banking hubs by the end of this Parliament. 225 have already been opened with agreements in place to open 275, protecting in person banking services across the country.”