Cash Access- Bank Hubs Without 24/7 ATMs NOT The Answer

Teignmouth has a population of 15,000 - and is yet another town left without any bank branches.

Cash Access UK say that they have put a temporary “Bank Hub” in the Post Office, a Post Office that is open only half day Saturday and is closed on Sundays.

There is now only one free-to-use ATM in Teignmouth Town Centre - and the permanent “Bank Hub”, when it finally opens, is unlikely to change that.

Mysteriously, the specification for “Bank Hubs” does not include ATMs? The Payment Choice Alliance drew this to the attention of the Financial Conduct Authority last year - but still no specification that includes ATMs has emerged.

So no guaranteed 24/7 access to cash.

Then again, why would the Financial Conduct Authority act to make it easier for the 50 million Brits who continue to use cash to access it?

By the way, the new “Bank Hub” also won’t increase the hours the residents of Teignmouth enjoy financial services each week. It will only be open Monday to Friday.

The irony is that this “Bank Hub” is being located in Bank Street; a street now with no banks.

In fact, should this street name be removed from use throughout the UK?

There are now so many town centres with a “Bank Street”, but no banks…

Source: bbc.com/news/articles/cgl2nlj0ge9o.amp