Banking hubs to open in Northern Ireland

The town of Comber in Co Down has a population of around 20,000 people - and zero bank branches... but that's all set to change.

Declining cash use and a surge in mobile banking has seen branches disappear from our high streets, but a new initiative is bringing back physical banking with the introduction of Banking Hubs.

They are a shared space, similar to a traditional branch, but available to everyone.

Customers of any bank can withdraw and deposit cash, make bill payments and more.

Banks will be working on a rotating basis, so there will be staff from different banks available on different days.

LINK, the UK’s cash access and ATM network, has today confirmed four new banking hubs will open in Northern Ireland.

Comber, Newcastle, Portrush and Warrenpoint have all been recommended new hubs following community requests from the Consumer Council for Northern Ireland.

Scott Kennerley, Director of Consumer Empowerment at the Consumer Council, told UTV: "The reason why this is important for consumers in Northern Ireland is we are more reliant on cash, we are more likely to use a bank branch and our own research that we published earlier this year showed that we've lost about 27% of our physical branch network in the past three years so we know that is a key issue for consumers, particularly in rural communities."

Nick Quin, Head of Financial Inclusion, LINK: “More people are choosing to bank and pay for things digitally; however, cash and face-to-face banking remains vital for millions of people. 

"We’re pleased to be recommending these new hubs across Northern Ireland. They will make a difference for customers and mean people won’t need to travel to do everyday transactions. 

"If any community believes it needs additional services such as a cash machine or banking hub, they can contact LINK directly and we can assess their local community to see if we can help.”

The first hub in Northern Ireland is set to open in Kilkeel next month. 

Potential sites will now be identified in Comber, Newcastle, Warrenpoint and Portrush after today's announcement, with those hubs likely to open their doors next year.

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