PRESTATYN is set to benefit from a new 'banking hub'. 

Banking hubs are similar to traditional bank branches but spaces are shared. They consist of a counter service operated by Post Office staff, where customers of any bank can withdraw and deposit cash, make bill payments, and carry out regular banking transactions.

In addition, they have private spaces where customers can speak to someone from their own bank about more complex issues, with staff from different banks available on different days.

Prestatyn has been without a major bank since 2021 meaning residents and businesses have had to travel more than five kilometres to Rhyl to bank.

Dr James Davies, MP for Vale of Clwyd, said: "Having been very concerned about bank closures, I have been campaigning on access to cash and how the lack of face-to-face banking services affects the local community and High Street.

"Thank you to LINK, who have engaged with me closely on this issue. I look forward to the next steps and a Bank Hub opening in Prestatyn.”

Along with Prestatyn, four new locations have been identified for the banking hubs: Bury Park, Luton, Bedfordshire; Haslemere in Surrey and Welling in south-east London.

As part of an agreement between the banks and building societies, following the closure of any bank branch, ATM network Link identifies whether a community requires further cash services.

Communities can also contact Link directly and ask to be assessed for support.

John Howells, CEO of Link, said: “We’re really pleased to confirm that Welling, Haslemere, Prestatyn and Bury Park in Luton will receive a banking hub and we hope more communities will apply. We know more people are banking online, but there are still millions of people who rely on cash.

“Banking hubs are proving exceptionally popular with consumers and helping to breathe life back into high streets.”

Nick Quin, Head of Financial Inclusion, LINK, said: “We’re really pleased to confirm that Prestatyn will receive a banking hub and we hope more communities will apply. We know more people are banking online, but there are still millions of people who rely on cash. Banking Hubs are proving exceptionally popular with consumers and helping to breathe life back into high streets.”

According to Which? 587 bank branches have closed so far this year.