200th banking hub opens with chocolate coins marking the event
Visitors to the hub in Billericay in Essex can explore a display of coins made from chocolate.
The 200th banking hub has opened, according to an organisation set up to help protect access to cash.
Cash Access UK said the 200th banking hub has been launched in Billericay in Essex.
To mark the occasion, coins from history including a Roman Denarius, a Medieval Henry VI Noble and a two-shilling piece have been recreated in milk chocolate.
The collection, which celebrates coins going back to the Late Iron Age period, can be viewed in the hub.
A chocolatier created the coins using a total of 15kg of chocolate and more than 10g of metallic lustre dust.
People visiting the Billericay hub can get a “taste” of the chocolate coins, with a limited number of standard-sized versions being given out. Six giant versions of the coins have also been created.
It took a total of 80 hours to design and create the collection of coins on display.
Banking hubs help to plug gaps in the system by enabling banks to share a single space.
Like other banking hubs, Billericay’s hub offers a counter service operated by the Post Office, where customers of all major banks can carry out regular transactions.
It also offers a community banker service, where customers can speak to their own bank about more complex issues on the day their bank is in the hub. The Billericay hub is located in a former Lloyds Bank building.
Alongside the 200th hub opening, Cash Access UK said more than 130 deposit services are now live across the UK.
Deposit services allow small businesses to deposit and access cash through deposit ATMs, where customers from different banks can bank notes, or enhanced post offices, where there is a separate counter for banking customers.
Banking hubs and deposit services are delivered by Cash Access UK in communities where these are needed and recommended by cash access and ATM network Link.
If a bank branch closes, Link reviews the community to understand whether the closure will affect access to cash for people locally. Communities can also ask Link to carry out an assessment if they feel they need better access to cash.
To date, 247 banking hubs have been recommended, with more openings planned in the coming months.
Gareth Oakley, CEO of Cash Access UK, said: “Reaching our 200th banking hub is a huge achievement and shows the strength of industry collaboration to keep cash and banking services accessible.
“These hubs are proving extremely popular, which demonstrates that face-to-face banking remains vital for millions of individuals and businesses across the UK, even as digital banking grows. We’re proud to bring this service to Billericay and will continue delivering new services across the country.”
John Howells, CEO of Link, said: “Almost five years since the first hub opened in Essex, it’s excellent to see the 200th open nearby in Billericay.
“Hubs are providing essential cash and banking services across the UK, to allow people and small businesses to readily bank and access cash. Link has recommended almost 250 hubs and will continue to protect access to cash for every community.”
Ross Borkett, financial services director at the Post Office, said: “Opening the 200th banking hub in Billericay is an incredible milestone.
“Banking hubs offer that face-to-face service which we know so many people still value, whether they are withdrawing or depositing their cash, checking their balance, or meeting with their local banker.
“We are hugely proud of our partnership with Cash Access UK and look forward to opening many more banking hubs in the coming months in communities across the UK.”
A survey among 2,000 people, carried out to mark the event, found that 46% feel more in control of their festive spending when using cash.
Nearly a quarter (24%) of people said they are increasingly receiving bank transfers instead of gifts during the festive period, according to the research, carried out in December.
Economic Secretary to the Treasury Lucy Rigby said: “Banking hubs boost our high streets – allowing local shop owners and people to get cash out, pay money in, and speak to a real person about their finances all in one place.
“I’m delighted to mark the opening of the 200th hub today, and continue to work with the major high street banks to deliver 350 by the end of this Parliament so that these communities get the services they need to thrive.”
