LINK, the UK’s cash access and ATM network, has today announced local people and businesses in Sydenham will benefit from a new banking hub. Following closure of a local bank branch, LINK has confirmed the banking hub as part of a wider commitment to protect access to cash.
Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone. When opened, the hub will consist of a counter service where customers of any bank can withdraw and deposit cash and make bill payments. 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.
Earlier this week, LINK recommended the 250th banking hub across the UK. Sydenham is the latest recommendation in South London with hubs already open in Welling and Sidcup, as well as a hub set to open in Mitcham later this year.
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 210 hubs open across the UK.
Nick Quin, Chief Corporate Affairs Officer, LINK: “While more people are choosing to bank and pay for things digitally, we know that many people still rely on and choose to use cash. That’s why we’re delighted to recommend the new hub in Sydenham. There are over 210 hubs open across the country and when it opens, the Sydenham banking hub will be vital for the local community and high street.”
