1200 Communities Should NOT Be Asked To Apply For Banking Hubs
Posted on: 09/12/2024This article urges communities to apply for a “Banking Hub”?
Leaving aside that there is no specification approved by the Financial Conduct Authority as to what services a “Banking Hub” must provide - as highlighted by MP Harriett Baldwin at last weeks Treasury Committee Cash Acceptance Inquiry- why not use a simpler method?
There are 1200 communities in the UK with populations between 5000 and 35,000. ALL of them used to have bank branches, for which, of course, communities didn’t have to apply.
Those bank branches have now largely gone, along with their ATMs.
So Cash Access UK can simply schedule to open “Banking Hubs” at all 1200 communities.
Beyond that, if other communities feel they deserve a “Banking Hub”, they can apply. And ALL these Banking Hubs should have 24/7 Cash Recycling ATMs, which accept deposits for every UK bank.
Isn’t keeping it simple BRILLIANT!
Source: thesun.co.uk/money/31789513/map-reveals-locations-locals-bank-branch-closures-won
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