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Bridgend Politics South Wales

New Banking Hub set for Porthcawl town centre

Welshpool Banking Hub (Pic: Cash Access UK)

CASH ACCESS UK, an organisation set up to protect access to cash for residents across the country, has confirmed it will open a new Banking Hub branch in Porthcawl.

The site will be located at 77 John Street, Porthcawl, and will feature a hub that offers a counter service operated by the Post Office, where customers of all major banks can carry out regular cash transactions.

It will be open to the public Monday to Friday between 9am and 5pm, with a report from the company adding that a community banker service will also be available for customers, where they can “talk to their own bank about more complicated issues.”

It will come as a welcome move to residents in the town of Porthcawl, which saw the closure of a number of its banks in 2023, including the local HSBC, Natwest, and Barclays.

Cash Access UK opened two banking hubs in Wales in 2023, in Prestatyn and Welshpool, and said it had plans to open at least six more this year, including Porthcawl, Abergele, Abertillery, Morriston, Risca, and Treorchy.

Gareth Oakley, who is CEO at Cash Access UK said: “We are happy to announce that we have secured a location for our Porthcawl Banking Hub. The two Hubs that opened in December in Prestatyn and Welshpool are already making a difference. The next steps are refurbishing the new building and making sure it’s ready as soon as possible.”

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Dr Jamie Wallis, MP for Bridgend, added: “I’m thrilled that Porthcawl’s residents can continue using in-person banking near to their own homes, thanks to Cash Access UK’s Banking Hub in John Street.

“This lifeline should safeguard continued cash access after a painful period of uncertainty, ensuring everyone living locally is afforded a regular rota service shared between bank providers. This should serve as an enormous reassurance to those that wrote in initially in 2023. I’d like to thank Cash Access UK for duly delivering on their prior promises.”

Community bankers will soon be working on rotation at the Porthcawl branch when it opens sometime in 2024, with a different bank available on each day of the week, as follows:

Monday: Barclays

Tuesday: Halifax

Wednesday: Lloyds

Thursday: HSBC (am) NatWest (pm)

Friday: Santander