Risca is the latest location in Wales to get approval for a banking hub from LINK, the UK’s cash access and ATM network.
LiNK, which is supported all the main UK banks, provides communities with continued access to cash and banking services when communities are left without a high street banking presence.
In Wales LINK has also approved new banking hubs in Welshpool, Porthcawl, Abergele and Prestatyn. Alongside Risca they are due to start operating new year.
The Risca hub, like others, 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. The banks will be working on a rotating basis, so there will be staff from different banks available on different days.
There are currently four banking hubs up and running across the UK including Brixham (Devon), Cambuslang (Lanarkshire), Cottingham (East Riding of Yorkshire) and Rochford (Essex).
Nick Quin, head of financial inclusion, LINK: “We know the way we pay for things and bank is changing. Yet not everyone is able to bank online or use digital payments. Many consumers and small businesses still rely on face-to-face banking and cash. That’s why we’re pleased to confirm Risca has been selected for a banking hub.”
In 2021 the banking industry agreed that following the closure of any bank branch, LINK would identify whether a community requires further cash services. Any community without a branch can contact LINK directly and ask to be assessed for support.
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