Dartmouth to receive new banking hub following community request

LINK, the UK’s Cash Access and ATM network, has today announced that Dartmouth locals and businesses will soon find it easier to access banking services thanks to the addition of a new banking hub in the town.

Following a community request from Anthony Mangnall MP, LINK has confirmed that the town will benefit from a new banking hub as part of a wider commitment to protect access to cash.

Dartmouth is one of four towns across the UK confirmed in today’s recommendations by LINK.

The others include Great Harwood (Lancs), Ramsbottom (Lancs) and Westhoughton (Greater Manchester). Horley (Surrey) will receive Deposit Solutions to support small businesses.

There are currently seven banking hubs up and running across the UK including Acton (London), Carnoustie (Angus), Brixham (Devon), Cambuslang (Lanarkshire), Cottingham (East Riding of Yorkshire), Rochford (Essex) and Troon (Ayrshire).

LINK also recommended hubs for Sidmouth and Teignmouth, which are likely to open next year.

Today’s news follows last week’s announcement from the Government to ensure cash access is protected. Alongside LINK’s existing commitments that every high street gets free access to cash, new laws will make it mandatory for consumers and businesses to be able to withdraw and deposit cash.

In 2021, the banking industry agreed that following the closure of any bank branch, LINK will identify whether a community requires further cash services. Additionally, any community without a branch can contact LINK directly and ask to be assessed for support.

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.

In addition to new banking hubs, other new innovations such as deposit services, and Cash at the Till, which allows retailers to provide free access to cash to consumers, are beginning to appear across the country.

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 to start looking for potential sites. It is likely to open in 2024.

Nick Quin, Head of Financial Inclusion, LINK: “More people are comfortable using contactless and digital payments, yet cash and face-to-face banking services are still vital to millions of people. We’re pleased to recommend the new hub and we look forward to it serving the community when it opens next year.”

Anthony Mangnall, MP for Totnes: “I am delighted that my application for Dartmouth to be home to a new banking hub has been approved. The facility will provide a very welcome service to residents and businesses in the town and the surrounding area, which currently has limited banking services.

“Having campaigned for South Devon’s first banking hub to be opened in Brixham and seen its ongoing success, I look forward to seeing the new facility breathe new life into Dartmouth’s high street, support residents and attract new businesses to the area.”