Banking hub to open in Richmond following Barclays closure

A new banking hub is to open in Richmond following the closure of the town’s last remaining bank.

Details of the hub were revealed today on the same day that Barclays announced it would shut its Richmond branch on December 4 next year, with Barclays in Northallerton set to close on March 14.

The hub will be opened by LINK, which already runs a national ATM network.

Richmond will be the 100th location in the UK to receive a banking hub.

Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone.

The hubs 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.

Additionally, each hub has a private space where customers can speak to community bankers from their own bank for more complicated matters that require specialist knowledge or privacy.

The banks attending each hub work on a rotating basis, so there will be staff from different banks available on different days.

John Howells, CEO, LINK: “High streets are at the heart of our communities and banking hubs are helping to bring life back to them.

“More people are banking and shopping online meaning they’re not visiting ATMs or bank branches as often as they used to. It’s still critical that we’re able to provide free access to cash and face-to-face banking services.

“We’re pleased that today we can confirm Richmond will be receiving a new banking hub and Cash Access UK is already working on plans to get it up and running.”

Following today’s announcement, Rishi Sunak said: “I am writing to Barclays to seek assurances about the arrangements they are making to look after those customers still using the branches at Richmond and Northallerton – particularly how they will maintain a presence in the two towns as they have done recently when closing branches elsewhere.

“It is important every assistance and support is given to help elderly or vulnerable customers to transition to online banking where they wish to do so and provide appropriate, alternative, access to their banking services where that is not possible.”

Mr Sunak welcomed plans for the banking hub in Richmond.

He added: “This would be the first such hub in our area and will help to retain in-person banking in the town. I will be pressing Barclays to retain the Richmond branch – the last bank branch in the town – until the new hub is up and running.”

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