BANKING HUBS BOOST

WHILE Northern Ireland’s first ever banking hub gets ready to open its doors in Kilkeel next month, two more such hubs have been announced for Newcastle and Warrenpoint. The announcement predated Tuesday’s news that Ulster Bank is to close its Downpatrick and Ballynahinch branches, which prompted calls for the creation of more banking hubs by South Down MLAs Colin McGrath and Patrick Brown. Banking hubs are a way for towns without a bank to have access to banking facilities and services. The first banking hub in Northern Ireland is due to open at premises at Kilkeel’s Greencastle Street in December.

There are 10 others already open in other parts of the UK. LINK, the UK’s cash access and ATM network, confirmed on Monday that banking hubs will be opening in three towns in County Down – Newcastle, Warrenpoint and Comber, as well as in Portrush, County Antrim. This follows community requests from the Consumer Council for Northern Ireland. “Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone,” a spokesperson for LINK said. “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.” The proposal is to have the local banking hubs open in 2024, and these will be delivered by Cash Access UK. “Over the next few weeks, it will begin to engage with the local communities and to start looking for potential sites,” the LINK spokesperson said.

Nick Quin, Head of Financial Inclusion, for LINK, said they are “pleased” to be recommending these new hubs in Northern Ireland. “They will make a difference for customers and mean people won’t need to travel to do everyday transactions,” he stated. “More people are choosing to bank and pay for things digitally; however, cash and face-to-face banking remains vital for millions of people.” Scott Kennerley, Director of Consumer Empowerment with the Consumer Council Northern Ireland, also welcomed the news. “We are delighted that LINK is recommending these new banking hubs across Northern Ireland,” he said. “We know from our research that many consumers here prefer to use cash and are still reliant on having access to a bank branch. “We have worked closely with LINK to highlight the needs of consumers in Northern Ireland so to get this result for consumers is a great development.”

Local MLA Diane Forsythe, who welcomed the announcement of the new hubs in Newcastle and Warrenpoint, recently visited the premises of the soon to be opening Kilkeel Banking Hub to find out more about how it will meet the needs of local residents. “I was delighted to meet Giovanni Maestri from Integral and Wayne Williams from Cash Access UK at the new Kilkeel Banking Hub this week for a tour,” she said. “It was good to have the opportunity to express to the partners how much it means to the local people in Kilkeel, who have been devastated by the closure of all their local banks in such a short space of time, to see this in place. “Rural communities should not be left behind and not be cut off from important services. “Kilkeel is privileged to be the first location in Northern Ireland to open a banking hub. “This is a fantastic facility, professionally fitted out and accessible. “I welcome the official opening to the public in the coming weeks.”