The Mudcat Café TM
Thread #169778   Message #4152093
Posted By: Rain Dog
05-Sep-22 - 08:16 PM
Thread Name: BS: Bank Branch Closures
Subject: RE: BS: Bank Branch Closures
From The Guardian

More ‘banking hubs’ to open across UK to tackle branch and ATM closures

"More shared “banking hubs” are to be rolled out across the UK to help communities hit by branch and ATM closures to get continued access to cash.

A banking hub is a shared service that operates in a similar way to a standard branch, with a counter service run by Post Office staff where customers of almost any bank can withdraw and deposit cash, make bill payments and carry out regular transactions.

There are also private spaces where customers can speak to someone, with trained specialists from different banks available on different days.

The additional 13 hubs announced on Tuesday take the total number planned to 25. However, of the first wave of 12 hubs, only two are in operation: in Rochford in Essex and Cambuslang, on the edge of Glasgow.

The other 10 already announced are expected to open over the next few months. It is understood that in some cases it has been taking longer than anticipated to find a suitable property for the shared branch or get the selected building ready."


And this bit, which did make me smile.


"The Cash Action Group includes senior representatives from big banks including Barclays, HSBC, Lloyds and NatWest.

The action group and Link said the Rochford and Cambuslang hubs “have proved extremely popular, with usage more than doubling since they have opened”.

They added: “As the impact of the cost of living crisis becomes increasingly apparent, the hubs are likely to become an ever more important resource, particularly in communities with minimal or limited cash access or banking facilities.”"