Banking hub planned to open in West Kirby next year

Following this week’s announcement of the planned closure of Natwest, the final bank branch in town, LINK has confirmed the area will benefit from a new banking hub "as part of a wider commitment to protect access to cash".

Banking hubs are described as "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.

In 2021, the banking industry agreed that following the closure of any bank branch, LINK will identify whether a community requires further cash services.

Additionally, any community without a branch can contact LINK directly and ask to be assessed for support.

LINK has now recommended that more than 100 communities should benefit from new shared banking services.

There are currently seven banking hubs up and running across the UK including Acton (London), Carnoustie (Angus), Brixham (Devon), Cambuslang (Lanarkshire), Cottingham (East Riding of Yorkshire), Rochford (Essex) and Troon (Ayrshire).

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

In addition to new banking hubs, other new innovations such as deposit services, and cash at the till, which allows retailers to provide free access to cash to consumers, are beginning to appear across the country.

The banking hub planned for West Kirby will now be delivered by a new bank-owned infrastructure company called Cash Access UK.

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

Natwest confirmed earlier this week that its branch on Banks Road West Kirby will be close for good on July 8, next year. The hub is likely to open soon after.

Natwest confirmed earlier this week that its branch on Banks Road West Kirby will be close for good on July 8, next year.

Nick Quin, head of financial inclusion at LINK: "While more consumers are choosing to pay for things online and digitally, there are still five million people who rely on cash.

"We know that face-to-face banking services are critical too.

"That's why banking hubs are important for consumers, businesses and the high street.

"This is the first we've recommended on The Wirral and we look forward to it supporting the community."