Treorchy is the latest location in Wales to get the go-ahead for a banking hub from LINK the UK’s Cash Access and ATM network. LINK, which is supported all the main UK banks, provides communities with continued access to cash and banking services when branches close.
The banking hub in the town is scheduled to open next year after the closure of its last high street banking branch in the town following a decision by Barclays.
LINK has recommended 52 banking hubs to date and there are currently four up and running across the UK at Brixham (Devon), Cambuslang (Lanarkshire), Cottingham (East Riding of Yorkshire) and Rochford (Essex). As well as Treorchy in Wales hubs have also been earmarked in Abergele, Porthcawl, Prestatyn and Welshpool.
Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone. The hubs 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.
Chris Ashton, head of banking services, LINK: "We know the way we pay for things and bank is changing. Yet not everyone is able to bank online or use digital payments. Many consumers and small businesses still rely on face-to-face banking and cash. That’s why we’re pleased to confirm Treorchy has been selected for a banking hub.”
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