LINK, the UK’s Cash Access and ATM network, has today announced that Ystradgynlais will be the latest town in Powys to benefit from a new banking hub. This recommendation follows a community request from David Chadwick, MP for Brecon, Radnor and Cwm Tawe.
Banking hubs are shared banking spaces, similar to a traditional bank branch, but available to all banking customers. 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 work on a rotating basis, so there will be staff from different banks available on different days.
Ystradgynlais’s recommendation follows a community request to LINK, who determined that the town requires additional cash services to support local businesses and banking customers.
Ystradgynlais is the second banking hub to be recommended in Powys, with the first in Welshpool already open for business. There are nine hubs open across Wales with a further three set to open in the coming months.
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 and will start to look for potential sites. There are currently 115 hubs open across the UK.
Dr Chris Ashton, Chief Commercial Officer, LINK: “While more people are choosing to bank and pay for things digitally, we know that many people still rely on cash and face-to-face banking.
“That’s why we’re delighted to recommend a new hub in Ystradgynlais. There are over one hundred hubs open across the country and when it opens, the Ystradgynlais banking hub will be a huge boost for the local community and high street.”
David Chadwick, MP for Brecon, Radnor and Cwm Tawe: “I ran to be the MP for Brecon, Radnor and Cwm Tawe because I wanted to make a real difference to people’s lives.
“I’m delighted that we have been able to secure this major victory for the community.
“I’d like to thank everyone who submitted evidence and got behind the campaign, Ystradgynlais is a fantastic community that really deserves this win.
“I will be closely monitoring and engaging with plans by Cash Access UK on where the banking hub’s permanent location will be over the coming months and residents are welcome to contact me with ideas.”
Anyone can contact LINK at this website: https://www.link.co.uk/initiatives/bank-branch-closures/
Additionally, to check for your nearest free access to cash point, you can download the app or visit the Cash Locator tool here: https://www.link.co.uk/consumers/locator/
