LINK, the UK’s Cash Access and ATM network, has announced that locals and businesses in Wath will soon find it easier to access banking services thanks to the addition of a new banking hub in the town.
Following community requests from John Healey MP and a member of the public, LINK has confirmed that the town will benefit from a new banking hub as part of a wider commitment to protect access to cash.
Wath is one of nine locations to be recommended a banking hub by LINK.
There are currently seven banking hubs up and running across the UK including Acton (Ealing), Carnoustie (Angus), Brixham (Devon), Cambuslang (Lanarkshire), Cottingham (East Riding of Yorkshire), Rochford (Essex) and Troon (Ayrshire).
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.
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.
The banking hub will now be delivered by Cash Access UK. Over the next few weeks, it will begin to engage with the local community and to start looking for potential sites. It is likely to open in 2024.
Wentworth and Dearne MP John Healey said: “It’s fantastic news that people in Wath and the wider area will be able to access face to face banking services again through a new banking hub.
“There’s been a great strength of public support for my campaign to restore services over the past six years since we were left without any bank branches in the town.
“I’ve been working hard to make the case for a banking hub in Wath, including getting assessors out to see the need for themselves.”
“The announcement will be welcomed by many residents who only bank in branch and can’t go online as well as our local businesses who need somewhere to go to access funding and deposit cash.”
Chris Ashton, Head of Banking Services, LINK: “We’re very pleased to recommend a new hub in Wath upon Dearne. Access to cash and face-to-face banking services are very important and the banking hub will be vital for local consumers and businesses.”