50th banking hub opens in UK, with four more to follow in Northern Ireland

THE organisation set up to help protect access to cash, Cash Access UK, has said it aims to reach 100 banking hubs around the UK by the end of the year.

One has already opened in Kilkeel in Co Down, with another three to launch around the county (Comber, Newcastle, Warrenpoint) and one to open in Portrush in Co Londonderry.

The latest hub has now opened in Jedburgh, in the Scottish Borders, bringing the total around the UK to 50.

The hubs help to plug gaps for communities as bank branches close and make it easier for small businesses to bank cash.

They have a counter service operated by the Post Office, allowing customers to conduct routine banking transactions.

Each hub has a private area where customers can consult with staff representing their respective banks for more complex matters.

Banks participating in each hub operate on a rotational basis, ensuring the presence of staff from different banks on varying days.

Gareth Oakley, CEO at Cash Access UK, said: “In a short space of time, we’re very proud of the difference the hubs are making.

“If you visit the more established hubs, you will also see how they are bringing energy and life back to these communities too.”

Ross Borkett, banking director at Post Office, said: “This is a significant milestone for both Cash Access UK and all of our postmasters who operate the banking hubs.”

Bim Afolami, Economic Secretary to the Treasury, said: “I look forward to seeing more hubs opening in the coming months.”

Hubs are recommended by cash access and ATM network Link, which reviews communities based on criteria including number of shops, transport links and deprivation.

Recommendations are then delivered by Cash Access UK, a not-for-profit organisation, which is owned and funded by nine major banks.

From the day a hub is recommended, it typically takes about 12 months to open.

In locations where it proves difficult to find a suitable property, Cash Access UK can open temporary hubs, giving more time to secure a permanent home for the hub.

The 50th banking hub has been established as a temporary hub in Exchange Street, Jedburgh.

Hubs open from Monday to Friday and each has a counter for cash services.

Users can pay in cash and cheques, withdraw cash, check their balance, pay utility bills and top up gas and electricity, while small businesses can access change-giving services.

Earlier this month, Finance Minister Caoimhe Archibald urged banks to protect the branch network and ensure communities impacted by branch closures are able to access banking services.

She met representatives of high street banks, UK Finance, Link and Cash Access UK to discuss the importance of rolling out banking hubs to areas impacted by branch closures.

“While there is a trend in many banks towards digital banking, losing a branch, or indeed several, can be a massive blow for any community, urban or rural...

“I welcome the opportunity to discuss the banking hubs and how they could be further rolled out to other communities right across the north.”