Following a community request, LINK has confirmed it will benefit from a new banking hub as part of a wider commitment to protect access to cash.
Morriston is one of four locations across the UK confirmed in today’s recommendations by LINK. The others include Enfield North (London), Hessle (East Riding of Yorkshire) and Auchterarder (Perth and Kinross).
Morriston is the eighth location in Wales to be recommended by LINK for a banking hub with the Prestatyn hub set to open later this year.
Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone. The hub will consist of a counter service operated by Post Office employees, where customers of any bank can withdraw and deposit cash, make bill payments and carry out regular banking transactions. In addition, there will be private spaces where customers can speak to community bankers from their own bank for more complicated matters that require specialist knowledge or privacy. The banks will be working on a rotating basis, so there will be staff from different banks available on different days.
In 2021, the banking industry agreed that following the closure of any bank branch, LINK will identify whether a community requires further cash services. Additionally, any community without a branch can contact LINK directly and ask to be assessed for support. To date, LINK have recommended 98 banking hubs across the UK.
The banking hubs will now be delivered by Cash Access UK. Over the next few weeks, it will begin to engage with the local communities and to start looking for potential sites. It is likely to open in 2024.
Chris Ashton, Head of Banking Services, LINK: “Access to cash and face-to-face banking services continue to be important for millions of people across the UK. Not everyone is able to go digital yet, so we’re pleased to announce new cash services to support Morriston with a new banking hub. If any community believes it needs additional services such as a cash machine or banking hub, they can contact LINK directly and we can see if we can help.”
