As the 100th banking hub opens its doors, is YOUR city next in line to get one?
- Darwen in Lancashire has become the 100th town to gain a banking centre
There are now 100 banking centers across the country, a milestone for Cash Access UK.
Today, Darwen in Lancashire and Morriston in Wales are the last towns to gain a banking centre, numbered 99 and 100.
Darwen was recommended a hub by ATM network Link following a community request following the closure of bank branches in the town.
This week, Cash Access UK – the not-for-profit organization that runs the banking centers – opened five new hubs in Harpenden, Yeadon, Huntly and – today – Darwen and Morriston.
Labor has pledged 350 banking centers by the end of parliament. With 100 of the hubs open, Post Office boss Neil Brocklehurst said: ‘we are on track to meet the Government’s target.’
It can take up to a year to set up a banking interchange, with most of this time spent finding a location for a new interchange.
There are now 100 banking centers across the country, with Darwen Lancashire becoming the latest town to get one
Link conducts community reviews following the announcement of the closure of a major bank, a significant change in hours or services provided, or when requested by a community member.
Link then recommends new banking hubs or deposit services and these are provided by Cash Access UK, which is owned by the banks.
So far, 176 banking centers have been recommended, as well as 126 deposit services. Cash Access UK today confirmed that 100 deposit services will be live by the end of the year.
A number of other cities in the country could have a banking center on their high street. In September, Link recommended opening banking centers in 15 cities.
Previously, cities where a rural branch was the last remaining branch were not eligible for a banking center. But the rules changed in September and towns where the last branch in town is a national branch can also get a banking centre.
This is Money analysis can now reveal that there are 19 other cities that would meet the criteria to be recommended as a banking center, as they only have one bank left in the city.
It means towns such as Windsor in Royal Barkshire, where the only remaining branch in the town is a Nationwide Building Society, could be considered for a banking centre.
Other towns that could benefit from hubs include Glastonbury in Somerset, Lampater in Wales and Alloa in Scotland.
Cities where there is only one bank branch
- Alloa
- Campbelltown
- Ilkley
- Glastonbury
- Windsor
- Leatherhead
- Leigh-on-Sea
- Lampeter
- Pocklington
- Dagenham
- Great ones
- Vest
- Guisborough
- March
- Milk ham
- Pontypool
- Whitstable
- Glossop
- Chepstow
Dorking was previously on this list, but yesterday a banking center was recommended by Link.
Banking centers have a traditional teller service operated by the Post Office, and community bankers from nine major high street banks work on a rotating basis to support customers with their banking needs.
While deposit services allow small businesses to deposit and access money through ATMs or post offices, where there is a separate counter for bank customers.
And they’re proving popular with residents of bankless cities.
In Brixham in Devon and Rochford in Essex, towns where some of the first hubs opened, three in 10 people said they are visiting and spending more on their local high street because of the hubs, research from Cash Access UK found.
Gareth Oakley, CEO of Cash Access UK, said: ‘Our hubs are proving extremely popular, demonstrating that access to cash and banking services remains vital for millions of people in the UK, despite more and more people choosing to bank digitally and make payments.’
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