New banking hub to open in South Elmsall

LINK, the UK’s cash access and ATM network, has announced that people in South Elmsall will soon find it easier to access banking services thanks to their recommendation for the new 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.

Over the next few weeks, it will begin to engage with the local community and will start to look for potential sites.

The hub will likely open in 12 months’ time.

The banks will be working on a rotating basis, so there will be staff from different banks available on different days.

To date, LINK has recommended 117 banking hubs. There are currently 37 banking hubs up and running in the UK, with a hub in Ossett expected later this year.

Nick Quin, Head of Financial Inclusion, LINK: “We are pleased to recommend this new banking hub for the local community in South Elmsall.

"Many people are reliant on cash, and it is essential that we protect access to cash and basic banking for communities across the UK.”

What is a banking hub?

A banking hub is a shared banking space, similar to a traditional bank branch but available to everyone.

The hubs currently consist of a counter service that will be operated by Post Office staff, 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 someone from their own bank about more complex issues.

The banks will be working on a rotating basis, so there will be staff from different banks available on different days.

What services will the hubs provide?

Banking hubs will offer basic counter services, allowing people to withdraw cash, collect change, deposit cheques, pay bills and make balance enquiries. Automated services for deposits and withdrawals may also be available.

On alternating days, bank staff from specific banks will be available so people can speak to their own bank about problems or other banking issues they may need help with.

What other services are available to people who need access to cash?

As well as the banking hubs, communities large and small, in every part of the UK need access to cash. There are a range of existing services that are being expanded or others that have been recently launched, including:

Free ATMs

Post Office counter services

Free deposit/SME business services

Cashback without purchase

Which banks are involved?

All the main high street banks are part of this work – and many bank customers will be able to use the counter service at the hubs and get advice, support and information about banking matters.

The banks involved are:

Bank of Ireland UK

Barclays

Danske Bank

HSBC

Lloyds Bank

NatWest

Santander

TSB

Virgin Money

Who will staff the banking hubs and how will they be sourced/trained?

Banks will ensure staff are available to work in the hubs on specific days of the week so people will be able to check when their own bank staff will be in the branch and can go in and speak to them. Anyone will be able to use the Post Office-staffed counter services any day that the hub is open.

People using the hubs will be able to speak to fully trained and experienced staff from each bank who will be able to provide support and banking advice.

Will the staff be able to help resolve problems and complaints?

Bank staff will be able to offer advice and support in the banking hubs and direct people to the departments that can sort out problems or resolve any complaints.

How do you decide which communities need a banking hub or cash services?

Establishing which communities need access to cash and what services are most suitable is not a just matter of demographics. Nor can need be defined by population numbers, given the diversity and location of rural communities to the country-specific needs of people in England, Northern Ireland, Scotland and Wales.

There are two ways for new hubs to be recommended. Whenever a participating bank or building society makes a change to its network (such as a branch closure or reduced opening hours) it notifies LINK in advance. LINK will then assess the location’s needs, looking at what other services are available locally, the size of the location (people and number of shops) and determine whether the community needs a new hub. The criteria that LINK uses have been developed and agreed after extensive consumer and small business group input and are operated independently of the banks.

In addition, a community can also request a review itself. LINK will then independently assess the needs of that community using the same criteria. Any community can ask for a review – the form is on LINK’s website: https://www.link.co.uk/consumers/request-access-to-cash/. Barton-upon-Humber in Lincolnshire is the first announced Hub that will be created after the community requested the service.