Cowdenbeath: Cash Access UK to launch banking hub this month

Cash Access UK held a meeting outlining how the new hub will work. <i>(Image: Darren Watt)</i>
Cash Access UK held a meeting outlining how the new hub will work. (Image: Darren Watt)
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Central Fife residents had the chance to learn more about the brand-new banking hub that’s coming to Cowdenbeath.

The service is set to launch later this month, before moving to its permanent High Street home further down the line.

It comes after a decision to shut the Bank of Scotland branch in High Street which is the last bank remaining in the town.

LINK, the UK’s cash access and ATM network, previously confirmed hub will be created as part of a wider commitment to protect access to cash.

A meeting took place on June 2 at the town’s Maxwell centre, with representatives of Cash Access UK relaying information about the facility.

Councillor Darren Watt said: “With the imminent loss of the town’s last bank, Cash Access UK will fill that void and ensure the local community will still have access to cash and basic banking services.

“Initially, the banking hub will be set up in the 99 Marketplace shop on the High Street, and will be operational approximately from the third week of June and before the Bank of Scotland Branch closes.

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“Longer term, the banking hub will be permanently at the old TSB building at the north end of the High Street. They expect it to be operating there in about four months time.”

Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone.

Services offered include paying in cash (notes and coin) and cheques, withdrawing cash (notes and coin), checking balances, paying utility bills and topping up gas and electricity.

There is a private space where you can talk face-to-face about more complicated banking enquiries like payments and transfers, managing your account, and how to use online banking.

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

To date, LINK has recommended 146 banking hubs, including 21 in Scotland. There are currently 60 banking hubs up and running in the UK.

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