New banking hub set to open in Normanton

The hubs are collaborative spaces shared by multiple banks, offering both personal and business customers essential banking services and cash access.

They feature a counter service managed by the Post Office, with staff from major high street banks rotating through to assist with more complex issues in a private setting.

Deposit services at these hubs will also enable small businesses to handle banknotes and coins, providing a convenient way to deposit and manage their cash.

Once cash access and ATM network Link has recommended a new banking hub or deposit service, in the majority of cases these will be delivered by a bank-owned company called Cash Access UK. To date, Cash Access UK has opened 81 banking hubs across the country.

Adrian Roberts, Deputy CEO, LINK: “We’re pleased to recommend this new hub in Normanton. 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.”

What are the new cash access rules?

Plans for the banking hubs were announced as new access to cash rules overseen by the Financial Conduct Authority (FCA) came into force on Wednesday (18 September).

Residents, businesses, local representatives, and charities who feel there is a gap in cash access can also request a review. Link will be carrying out community assessments in accordance with the new rules.

The organisation said it will be able to recommend banking hubs where there is still one bank or building society branch in town, where it might not meet the needs of businesses and consumers.

As a result of community requests received and assessed under the new rules, the following communities will have a banking hub delivered:

Why have there been problems with the hubs?

While 15 new banking hubs opening in communities across the UK – including Normanton – is ostensibly a good thing, concerns have been raised about the quality of the facilities.

According to the BBC, many hubs lack printers, which means customers can't obtain paper statements that might be needed for employers or landlords.

Issues have also been reported regarding the overall service quality and the level of investment from banks, with some hubs particularly criticized for not providing essential services, such as printing.