New banking hub for Nailsea

Nailsea Town Council is delighted that LINK, the UK’s Cash Access and ATM network, have announced that residents and businesses in Nailsea will soon find it easier to access banking services thanks to the addition of a new banking hub in the town. The announcement follows a community request from Cllr James Turner on behalf of Nailsea Town Council.

Nailsea, like many other communities, has seen all the banks in the town closing leaving residents with only the local Post Office. Bank branches have been disappearing from high streets due to several factors including a shift to Online Services, cost-cutting measures and changing customer behaviour. The rise of digital banking has led to a decline in foot traffic at branches with many customers now preferring the convenience of online transactions over in-person visits.

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. 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.

Banking hubs can be recommended by LINK through a community request or following the announcement of the closure of the bank branch in a location. Successful recommendations are determined by several factors including the number of shops in the area, demographics, and proximity to other banking services. The banking hub in Nailsea was requested by Cllr James Turner on behalf of Nailsea Town Council.

James says “I am really pleased that LINK have agreed a Banking Hub in Nailsea. This followed campaigning by me and the council team and providing LINK with the information to be able to agree this request. It will ensure that Nailsea residents get access to the banking services they need in the future.”

To date, LINK has recommended 132 banking hubs, 53 of which are up and running across the UK. This includes a temporary hub in Wellington with another hub recommended in Keynsham.
The banking hub will now be delivered by Cash Access UK. Over the next few weeks, it will begin to engage with the local community in Nailsea and will start to look for potential sites. The hub will likely open in 12 months’ time.

Nick Quin, Head of Financial Inclusion LINK: “Access to cash remains really important for many people across the country. We’re always pleased to hear from the local community about their high street. That’s why we visited Nailsea earlier year and we’re pleased to confirm today that a new hub will now be delivered.”