A NEW banking hub, which will provide services from multiple banks, has been recommended for Westbury. It follows the news that Westbury could also have a post office service restored, as the Post Office has confirmed that an application to re-open a town centre branch is currently under way.
Westbury Mayor, cllr Mike Sutton, said, “The news that Westbury is to receive a ‘banking hub’ is very welcome. Having lost all our banks and High Street Post Office, it is pleasing to know that an important town like Westbury is deemed worthy of a banking hub and central Post Office branch.”
LINK, the UK’s main cash machine ATM network, has confirmed it will establish a banking hub in Westbury which is likely to open in 12 months’ time.
Banking hubs are shared banking spaces, similar to a traditional bank branch, but available to everyone. When opened, 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.
At Westbury’s new banking hub, there will also 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.
The banking hub will be delivered by Cash Access UK, which provides cash and banking services in the heart of communities. The service was recommended by LINK after a local resident asked them to investigate whether the town was eligible for a banking hub. Over the next few weeks, the company 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 calls for a banking hub were sparked by local resident Valerie Jarvis, who launched a petition which reached 600 signatures calling for a banking hub in the town following the closures of both Westbury’s Barclays branch and Lloyds bank in 2018.
“I am delighted that Westbury will now get the much-needed banking hub,” said Valerie. “Reading all the comments of the online and paper petitions, it was evident that the older generation were most in need of this facility.
“The businesses also wanted somewhere to bank cash as well. The Westbury Mayor, Mike Sutton, came and picked the petition up from me. I truly hope people will be as pleased as I am.”
The town’s previous application for a banking hub was rejected as the town failed to meet the criteria due to the number of available cash machines in the town centre.
However, Westbury Town Council said that they had noticed increasing incidents in recent months where some or all of the available cash machines are either offline or have run out of cash, further increasing the difficulties faced by residents and businesses trying to access cash or make deposits via cash machines.
Westbury Town Council said it was delighted by the news that the town will be getting a banking hub.
The council said, “Whilst there is still work to be done, this announcement will be welcomed by residents and businesses who have struggled since the closure of the last bank in the town in 2018, and the High Street post office in 2022.”
Westbury Mayor, cllr Mike Sutton, added, “We are grateful to all those who have campaigned tirelessly to achieve this result, including our local MP, Dr Andrew Murrison.”
The news has also been welcomed by MP Andrew Murrison, who says that the closure of banks and building societies in the UK is part of nation-wide trend as since January 2015, 6,000 bank and building society branches have closed in the UK or are due to close by January 2025, which is equivalent to 61% of all branches in 2015.
The MP said, “I am hugely pleased that LINK have answered our calls and will soon be providing a new bank hub. I have lobbied and will continue to campaign for financial inclusion so that no one should be at risk of losing access to banking services.
“Across the last few years, waves of local branch closures have seen access to banking services across the UK vastly diminish. Whilst this trend reflects shrinking demand for in-person services and greater preference for remote banking, there are many people who are not comfortable or are able to manage their finances in this way. Banking hubs are vital in promoting financial inclusion and I am pleased that Westbury residents will have access to this in the near future.”
Nick Quin, head of financial inclusion at LINK said, “We’re pleased to recommend the new hub in Westbury. While many people are choosing to bank and pay for things digitally, there are millions of people across the UK who prefer cash and face-to-face banking. If a community believes that it needs additional cash services, they can contact LINK directly and we can assess whether we can recommend new services such as cash machines or banking hubs.”
