Banking hub plans move forward

Plans for a banking hub in Westbury are moving forward following the announcement earlier this year that the town is eligible for the service to address the banking needs of the community after a petition from local residents. 

Westbury Town Council is working closely with Cash Access UK, the organisation which will be delivering the hub, as the plans progress. The hub would provide access to cash and basic banking services for both local people and businesses. 

In January 2023, shortly before the post office on the High Street closed, the council made an initial banking hub application; however this was declined as Westbury failed to meet the criteria for a banking hub at that time. 

But following a successful request for a banking hub assessment made by a resident in early 2024, the council was delighted to receive the news in April that Westbury had been successful in qualifying for a banking hub within the town centre. The success followed changes in the guidance covering issues such as the number of retailers in the town and travel time to nearest bank. 

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. 

Members of the town council recently met with Cash Access UK to start the process of looking for a suitable premises. 

Mayor Jane Russ said, “I was so disappointed when we were originally turned down for a banking hub but delighted that they have taken a second view of it. 

“A banking hub will make a huge difference for the many of the residents and small businesses in the town. 

“We’ve no idea yet where the hub will go but it’s very much the aim that it will be somewhere in the town centre; Access UK realise how important this is and that is very much the message from the town council. 

“Access are looking for suitable premises now for the long term but will consider something temporary if necessary which is a really positive sign and shows their commitment to establishing a banking hub in the town as soon as they can.  

“The banks made a huge mistake in closing local branches. I think they thought everyone would go over to digital automatically and digital is fine for a lot of people who can switch but if you can’t it’s a serious problem. Cash is still important to a lot of local people and small businesses. 

“The hub will also play an important part in keeping the town centre alive. It will mean that local businesses will be able to pop in and deposit money; there are a lot of shops and businesses in the high street who will find it incredibly useful.” 

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.  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.      

“Cash is still important to millions of people in the UK,” say Access UK. “Between five and six million adults say they rely on cash in their day-to-day lives. Digital or online solutions don’t yet work for everyone all the time. We’ve found that banking hubs and other services can make a real difference to individuals, small businesses and the communities they live in. This is why we’ll be working with hundreds of communities to meet their cash and basic banking needs.”