A MUCH-needed banking hub is coming to Kenilworth.
The hub should be up and running next year and has been welcomed by MP for Kenilworth and Southam, Sir Jeremy Wright due to a lack of face-to-face banking facilities in the town.
Kenilworth currently has a Lloyds Bank and a Barclays Local, based at Kenilworth Youth and Community Centre.
Nationwide Building Society and Coventry Building Society also have branches in the town but are only open on certain days of the week.
The only option up to now for other banking customers has been to either bank online or travel to another town.
Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone. 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.
There are currently over 80 banking hubs up and running in the UK.
Kenilworth has previously not met the criteria for a banking hub but due to a recent FCA rule change, a hub will now be provided by LINK, the UK’s cash access and ATM network.
Over the next few weeks, the search will begin for a potential site, with the hub likely to open in 12 months’ time.
Sir Jeremy said: “Many of my constituents need access to banking facilities in Kenilworth in person and I have been concerned for some time about the reduction in bank branches present in the town. Bringing in person banking facilities back to Kenilworth would be most welcomed by many who cannot, or do not wish to, bank online.”
