ATM network Link announces new banking hub for Market Harborough


ATM network Link has announced the process of launching the new hub had begun, just a month after it said the move would not be possible.
However a rule change by the Financial Conduct authority has prompted a U-turn.
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Hide AdThe hub plans follows the closures of NatWest, HSBC and Barclays which blamed online banking for a significant loss of footfall. The last major bank Lloyds announced its closure later this year.
The hub will allow face to face banking through a counter service operated by Post Office employees.
Customers of any bank will be able to withdraw and deposit cash, make bill payments and carry out regular banking transactions. There will also be private spaces where customers can speak to community bankers from their own bank for more complicated matters.
The banks will be working on a rotating basis, so there will be staff from different banks available on different days.
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Hide AdThe new hub will delivered by Cash Access UK, which is looking for a location to host the hub expected to open in 12 months’ time.
MP Neil O’Brien said: “This is hugely welcome news. In such a short period, all the major banks have left the town, leaving many customers nowhere to do their banking. It was hugely worrying for many, and my mailbox has been full of people concerned about how they will access banking services and cash.
“I am delighted that LINK have recommended this much-needed service, and I look forward to working with them and Cash Access UK over the coming months to make this a success. Judging by the recent number of queries I have received about this, I know the service will be in high demand. I look forward to seeing it in operation.”
Adrian Roberts, Deputy CEO, LINK added: “We’re pleased to recommend this new hub in Market Harborough. Access to cash remains vital for millions of people across the country and the new rules that come into force today mean that people will be able to access cash on the high street for many years to come.”
To date, LINK has recommended 163 banking hubs. There are currently 76 banking hubs up and running in the UK.