Banking Hub for Knaresborough

After the town’s last remaining bank closed in March, residents have been left with just two ATMs and frustrated at a lack of face-to-face services.

But the Access to Cash Action Group has now announced a new hub will open at a location yet to be confirmed next year with banking providers operating on a rotational basis.

Each bank - including Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society, NatWest, Santander, TSB and Danske - will offer its own services from the hub on different days of the week.

The move has been welcomed by Knaresborough councillor Ed Darling who said: “The new facility will be a very positive addition to our High Street and I look forward to seeing those doors opening on the first day.

“This is the next step in ensuring Knaresborough is somewhere with easy access to cash and banking services.”

Harrogate and Knaresborough MP Andrew Jones added: “This is great news for Knaresborough, a town starved of its banking facilities, and I am sure this new facility will be well-used by residents, businesses and visitors.”

According to the Office for National Statistics, the number of bank branches across the UK has fallen from more than 11,300 in 2012 to under 7,000.

This has raised concerns about certain groups, including the elderly and disadvantaged, who are still reliant on face-to-face services and are being forced to travel significant distances.

In Knaresborough, residents have been forced to travel to Wetherby or Harrogate since the closure of Halifax in March.

The other locations which have been chosen to get the hubs include Acton in West London, Brixham in Devon, Carnoustie in Angus and Syston in Leicestershire

This follows two trials of the concept in Essex and South Lanarkshire which were initially extended until April 2023 and will now run indefinitely.

Those behind the schemes say cash use is currently around 35 per cent below pre-Covid levels. However, they added millions of people across the UK still use cash.

Natalie Ceeney, chair of the Access to Cash Action Group, said: “I’m delighted that the industry is committing to ensuring that the cash needs of consumers and small businesses up and down the UK will continue to be met.

“We know that demand for cash is declining, but we also know that it continues to play a vital part in the lives of at least 5 million people in the UK – including some of the most vulnerable in society.”

She added: “The community pilots have shown that there are many different ways to meet people’s cash needs.

“Informed by this experience, I’m confident that the new plan will lay the foundations for a positive future for cash access across the UK.”

A decision on where and when Knaresborough’s new facility will open will be made in the New Year.