Further to my post last week, I brought LINK to Parliament yesterday, to get further explanation from them on the new Banking Hub we’re getting in Alnwick.
LINK review bank closures and recommend Banking Hubs where the criteria are met – as they have been in Alnwick.
Whilst final details are being worked out – and I’ll be meeting Cash Access UK who will run our Hub to help shape them – some key principles are below:
- It will be in addition to the – already busy! – Alnwick Post Office
- It will offer cross-bank counter-service transactions run by the Post Office
- A private consultation room will be staffed by the 5 most commonly used banks in our area – with each bank operating a different day of the week
- 97% of people will be covered by this – with only folk who have specifically chosen online-exclusive banks not covered
I’ve also made representations to the Treasury Select Committee's banking inquiry, helping shape the way the Gov’t, through the Financial Services & Markets Act 2023, has asked the Financial Conduct Authority to seek to ensure reasonable provision of cash deposit and withdrawal services for personal and business current accounts.
