Post Office trials BankHubs

The UK Post Office is piloting two BankHubs in Rochford and Cambuslang as part of plans to meet communities’ needs for high street banking services. The Post Office BankHubs will offer basic banking and cash services as well as rooms where people can meet community bankers from their own banks.

The BankHubs are part of the Communities Access to Cash Pilots (CACP). Already, Post Offices meet the needs for cash deposits and withdrawals for millions of personal and business customers who can’t access their retail banks. Some 99% of the UK population live within three miles of a Post Office but retail banks are closing branches in all but major population centres, otherwise denying millions banking access.

Nick Read, Chief Executive at Post Office, said: “We are proud to be at the heart of the CACP programme and see the BankHubs as an exciting expansion of our role in safeguarding a secure and sustainable future for cash, as well as our partnership with the banks. Access to vital banking and cash services are imperative in ensuring financial inclusion, and the positive reaction to the pilots so far is testament to just how pressing it is that we support communities and consumers that would struggle without cash. The Hubs can make a real difference as part of the solution to meeting peoples’ cash needs in future.”

Martin Kearsley, Banking Director at Post Office, said: “In many communities, Post Office is the last counter in town for cash services, but for many people who still need a place to meet their bank, our new BankHubs are a lifeline. The Post Office network has long formed the bedrock of cash access in the UK and we’re fully committed to continuing and expanding that role. We see it as essential that any community struggling amid bank branch closures, and those whose livelihoods depend on cash, be provided with an appropriate solution, and hope that in partnership with the banks, the Hubs will prove to be a great success.”

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