A TOWN which will lose its last bank next year will be getting a banking hub to help replace the services lost, it was announced today.
Over the next few weeks, Cash Access UK, which will be delivering the hub in North Berwick, will "engage with the local community" and start to look for potential sites.
Customers of any bank will be able to visit the shared space to carry out regular banking transactions, including withdrawing and depositing cash, paying bills and making balance enquiries.
The banking hub will consist of a counter service operated by Post Office employees.
In June, Bank of Scotland announced that it would be closing its North Berwick branch on February 19, 2025.
Following the previous closures of the town's Royal Bank of Scotland branch about five years ago and then its TSB branch in 2021, the town will be left without a bank.
READ MORE: Bank of Scotland announces closure of North Berwick branch
Kathryn Smith, secretary of North Berwick Community Council, said at the time the bank closure was announced that it had "shocked" residents, highlighting that the town had many elderly residents "who rely on in-banking services, who do not like online banking”.
But today, LINK, the UK’s cash access and ATM network, announced that the town would benefit from a new banking hub, which is likely to open in 12 months’ time.
This decision follows a request submitted by East Lothian MSP Paul McLennan to LINK, the co-ordination body that carries out assessments when there is a change to the level of cash access in a community and recommends new services when required.
LINK found a gap in cash access services available in North Berwick and the surrounding areas and recommended the new hub.
Mr McLennan was "extremely pleased" with the news.
Commenting on the announcement, he said: "I have been working closely with LINK in recent weeks to push the case for access to cash across East Lothian, and this is the first of the three assessments I have requested.
"The specific points we raised for North Berwick noted the significant time and distance now required to access a bank branch via public transport, as well as the large seasonal increase in the visitor population, and the fact North Berwick itself serves as a retail hub for the towns and villages along the A198 and south towards Drem.
"I will continue to work with the community and the Access to Cash organisations to ensure this assessment becomes a reality as soon as possible".
On alternating days, bank staff from specific banks will be available at the hub so that people can speak to their own bank about problems or other banking issues they may need help with.
In addition, there will be private spaces where customers can speak to community bankers from their own bank for more complicated matters which require specialist knowledge or privacy.
Nick Quin, head of financial inclusion at LINK, said: “We’re pleased to recommend this new hub in North Berwick.
"Many people locally still rely on cash, and this hub will play a crucial role in helping them access it on the High Street.
"We’re committed to making sure people who use cash in places like North Berwick have the benefit of a convenient, accessible location to access and deposit cash on the high street.”
Douglas Alexander, MP for Lothian East, welcomed the news.
He said: “I’m very keen to see banking hubs established in local communities where branches have been lost, so it’s great news that LINK has recommended this one.
“I’m sure it will prove to be helpful for local individuals, businesses and groups who want to do their banking in person, and I look forward to hearing more details about the new hub.
“I’ll also continue to make the case for banking hubs to be considered in other local towns without bank branches.”
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