A NEW hub offering shared banking facilities is set to open in a town where traditional banks have axed their branches.

The location of a new Otley Banking Hub has now been confirmed.

Cash Access UK, the organisation set up to protect nationwide access to cash, has today confirmed the new Banking Hub in Otley will be located at 15-17 Kirkgate.

The Hub was first announced in March last year when Halifax - the last bank in town - announced the closure of its branch on Kirkgate. This branch is due to close permanently on March 26, 2024.

The exact opening date of the Hub is yet to be confirmed but it will open in early 2024. The team at Cash Access UK are now working to fit out the new premises and will update the community on progress and an opening date as soon as they can.

The Otley Banking Hub page on the Cash Access UK website - www.cashaccess.co.uk/hubs/otley-west-yorkshire/ - will provide updates as works progress.

The Hub, when it opens, will offer a counter service operated by the Post Office, where customers of all major banks and building societies can carry out regular cash transactions, Monday to Friday, 9am to 5pm. It will also offer a Community Banker service where customers can talk to their own bank about more complicated issues on the day their bank is in the Hub. Community Bankers will work on rotation, with a different bank available on each day of the week:

Monday: Barclays

Tuesday: Halifax

Wednesday: HSBC (am), Santander (pm)

Thursday: NatWest Friday: Virgin Money

A spokesperson for Cash Access UK said: "Finding the right location for a Banking Hub that is convenient, accessible and works for everyone often takes time, so Cash Access UK is delighted to have been able to secure convenient premises in the heart of the community. This development is a significant step forward in bringing a Banking Hub to Otley.

"The Hub was recommended by LINK, the UK’s cash access and ATM network, following the announcement of the closure of Otley’s last remaining bank branch."

Gareth Oakley, CEO at Cash Access UK added: “We are happy to announce that we have secured a location for our Otley Banking Hub. It will play an important role in maintaining access to cash and banking services for the community. We will be sure to keep local residents and businesses updated on our progress.”

Joe Woollin, Digital Inclusion Development Worker, Otley Action for Older People said: “Otley’s Banking Hub represents a recognition of the enduring need for face-to-face banking and investment in our high streets. Although digital and online banking services are widely adopted, we must not neglect those who rely on non-digital means of managing their finances. Without the Banking Hub, many older and vulnerable people would be robbed of this independence. We look forward to Otley’s Banking Hub serving as an accessible alternative to digital banking and becoming an established community asset.”

Alex Sobel, MP for Leeds North West said: “I am pleased to hear that Cash Access UK has identified a suitable property for a banking hub in Otley, West Yorkshire. This is good news for the local community and a positive step towards ensuring accessible financial services for residents.

"The establishment of a banking hub addresses the needs of my constituents who rely on convenient access to banking facilities.

"I look forward to seeing the positive impact this initiative will have on the community, providing essential services and contributing to the overall prosperity of Otley.

"It is encouraging that Cash Access UK have recognised the importance of local banking services in Otley by retaining some face-to-face services that have been lost since the branch closures of banks.”

Cllr Richard Hughes, Chairman of Otley Town Council said: “It is pleasing that Otley has been chosen as a location for an early Banking Hub. Town Councillors are delighted that suitable, prominent premises have been found and that an opening early in 2024 is being planned for. We know that many Otley residents and businesses need cash access. With the closure of all our bank branches, this facility is much needed to complement the services offered by the Post Office.”

If you would like to know more about the Banking Hubs, contact: cashaccessuk@cicero-group.com.