Cash Access UK opens doors to 150th banking hub
This week we have reached the latest milestone with 150 banking hubs now open. And in the same week we have also opened the first hub inside a convenience store.
Almost four years since the first banking hubs opened 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 Kirkham this week represents the 150th to open. It is also less than six months since the 100th opened in Darwen, Lancashire.
In further developments this week, Cash Access UK can confirm the permanent location of the Treorchy hub also represents a first. While many of the operational hubs are located in former bank branches, pharmacies, community centres and even a Grade 2 Listed former mill, Treorchy’s banking hub is located within a convenience store – Co-op’s Station Road, Treorchy store.
Customers of all major banks can visit the hubs any weekday between 9am-5pm to carry out regular cash transactions including cash withdrawals and deposits as well as checking balances or paying bills. Additionally, the hubs also offer a community banker service where customers can talk to their own bank in a private space about more complicated issues on the day their bank is in the hub.
Alongside banking hubs, Cash Access UK also provide deposit services. These allow small businesses to readily deposit and access cash either through deposit ATMs, where customers from different banks can readily bank notes, enhanced Post Offices, where there is a separate counter for banking customers or cash hubs which provide communities with access to assisted cash and basic banking services through a brand new counter service. To date, 123 deposit services have been delivered throughout the UK.
Banking hubs and deposit services 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.
To date, 224 banking hubs and 149 deposit services have been recommended.
Gareth Oakley, CEO, Cash Access UK: “In a short space of time, 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 150th hub marks our latest milestone.
“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 and a warm and welcoming customer experience. 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 into the shop.”
Economic Secretary to the Treasury, Emma Reynolds, said: “Reaching this milestone of opening 150 banking hubs is a huge step towards reaching our target of opening 350 hubs by the end of this Parliament.
“Banking hubs ensure people and businesses can access cash and face-to-face banking services, helping revitalise the high street, bring footfall back to town centres and put more money into people’s pockets through our Plan for Change.”
Among the more unusual locations for banking hubs include a former sardine factory and a converted public toilet.