Banking hubs in Maryport and Kirkcudbright to make cash more accessible in community

Residents in towns on either side of the Scottish border will soon have easier access to cash as two new banking hubs are being built.

Maryport and Kirkcudbright will both get a hub which will be used by different banking companies to offer financial services and ATMs.

They are expected to work in a similar way to Post Offices where customers of several high street banks can deposit and withdraw cash.

As the services in the hub will be shared across banks, each company will provide staff on rotation, in addition to trained specialists.

The facilities in the ITV Border region are two of 13 being created across the country, bringing the total to 25.

According to the ATM network Link and the Cash Action Group, which includes banking industry representatives and others, it is believed that the hubs are going to be even more important amid the ongoing rising cost of living.

Those behind the initiative believe it will be vital for communities with minimal or limited cash access or banking facilities.

The new banking hubs follow a trend of increasing bank closures, which have caused concerns about people's continued ability to easily access cash.

Natalie Ceeney, chair of the Cash Action Group, said: "Cash still matters hugely to millions of people across the UK and with the cost-of-living crisis biting, more and more people are turning to cash as a way of budgeting effectively."

Ms Ceeney added that there are hopes to expand the hub network to benefit hundreds of communities across the UK in the next few years.

The UK Government has also said that people across the UK will benefit from new legislation to protect access to cash.

The addition of the new hubs follow a successful pilot last year which saw 60,000 customers visit two locations last year.

John Howells, CEO of Link, said: "The UK isn't ready to go cashless yet and it's vital to protect our national cash infrastructure for the millions of consumers who still rely on cash."

The Financial Conduct Authority is working alongside Link to oversee the approach and ensure communities get the help that they need.

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