LINK, the UK’s Cash Access and ATM network, today announced that Abergele locals will soon find it easier to access banking services thanks to the addition of a new banking hub in the town.
Residents living in Abergele have lost seven banks over the years with only a Post Office remaining to serve the local community. Whilst there are a number of ATMs nearby, there are currently no banks in the town, meaning residents have to travel many miles to Colwyn Bay or Rhyl to visit their branch.
Following requests from Clwyd West MS Darren Millar to LINK, it has been confirmed that the town will benefit from a new banking hub as part of a wider commitment to protect access to cash.
Darren said:
“I am delighted that Abergele will benefit from one of Wales’ first banking hubs. This is wonderful news for my constituents in Abergele and the wider area who have lost access to banking services in the town over the past decade. I look forward to continuing to work with Cash Access UK to identify a suitable location for the new hub so that it can get up and running as soon as possible.”
Chris Ashton, Head of Banking Services, LINK, said:
"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 Abergele has been selected for a banking hub.”
Abergele is one of five towns across the UK due to receive a banking hub in LINK’s latest round of announcements. There are currently four banking hubs up and running across the UK including Brixham (Devon), Cambuslang (Lanarkshire), Cottingham (East Riding of Yorkshire) and Rochford (Essex).
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. After receiving a request from the Abergele community, LINK has recommended the hub.
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.
In addition to new banking hubs, other new innovations such as deposit services, and cash at the till, which allows retailers to provide free access to cash to consumers, are beginning to appear across the country.
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. The hub will likely open in early 2024.
