Almost four years since the first banking hubs opened by Cash Access UK in Cambuslang and Rochford, as part of a pilot project to understand how to improve and protect cash access within local communities, the latest opening in Treorchy, Wales, earlier this week.
But while many of the operational hubs are located in former banks, pharmacies and community centres, Treorchy’s banking hub is the first to be located within a c-store. Some of the more unusual locations for banking hubs include a former sardine factory and a converted public toilet.
Customers of all major banks can visit any weekday between 9am-5pm, to carry out regular cash transactions including withdrawals and deposits as well as checking balances or paying bills. Additionally, the hubs offer a community banker service where customers can talk to their own bank in a private space.
Banking hubs are delivered by Cash Access UK and come about following the closure of any bank branch across the country. This assessment is conducted by LINK, the UK’s cash access and ATM network, who independently review a community to understand whether the closure will affect access to cash for locals.
Gareth Oakley, CEO of Cash Access UK, said: “We’re very proud of the difference banking hubs are making. It’s been a particularly busy year, and our team has worked hard to open 50 hubs in just four months.
“The format of banking hubs is continually evolving as we learn from our experience. They may come in different shapes and sizes to best meet the needs of the community, but whatever their format, they all provide easy access to cash and banking services.
“We’re pleased to work closely with Co-op for the first hub opening within a convenience store. It’s a great, convenient spot and naturally there is a lot of footfall.”
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