LINK, the UK’s Cash Access and ATM network, announced on Thursday, May 30, that it would be adding a new banking hub in the town. The announcement follows a community request.
Banking hubs are shared banking spaces, similar to a traditional bank branch, but available to everyone. When opened, 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.
Jo Duffy, Nailsea Town Council Clerk said: “We are delighted that Link has taken on Board the Town Council’s genuine concerns for a lack of Banking facilities in Nailsea. Our thanks to the councillors who didn’t take no for an answer!”
Banking hubs can be recommended by LINK through a community request or following the announcement of the closure of the bank branch in a location. Successful recommendations are determined by several factors including the number of shops in the area, demographics, and proximity to other banking services.
To date, LINK has recommended 132 banking hubs, 53 of which are up and running across the UK. This includes a temporary hub in Wellington with another hub recommended in Keynsham.
The banking hub will be delivered by Cash Access UK. Over the next few weeks, it will begin to engage with the local community and will start to look for potential sites. The hub will likely open in 12 months’ time.
Nick Quin, Head of Financial Inclusion LINK, said: “Access to cash remains really important for many people across the country. We’re always pleased to hear from the local community about their high street. That’s why we visited Nailsea earlier year and we’re pleased to confirm today that a new hub will now be delivered.”
