Five banks to operate from new hub in Oakham town centre

The new banking hub will be located at 43 High Street in Oakham town centre

A new hub where five banks will set up shop on a different day of the week is set to open in Rutland.

The service, planned for the former Lloyds building in Oakham town centre, will offer a counter service operated by the Post Office.

The hub has been set up in response to banks closing branches due to a rise in cashless payments and online services.

Cash Access UK, which is behind the scheme, said it was working to refit the building.

No date has yet been set for its opening.

'Access to cash'

A different bank will be available for customers on each weekday with it open to Barclays customers on a Monday, NatWest on Tuesday, Santander on Wednesday, Lloyds on Thursday and HSBC on Friday.

There will also be a service where customers can talk to their own bank about more complicated issues on the day their provider is operating.

Gareth Oakley, CEO at Cash Access UK, said: "We know more people are banking online and paying for things with cards and digitally, but access to cash is still important and I'm really pleased that we will soon be able to open the new hub and bring banking services back to the town."

Rutland and Melton MP Alicia Kearns added: "This is great news for our community and all those who continue to rely on cash and face-to-face banking services."

The hub will be managed by Cash Access UK, a not-for-profit company owned and funded by Bank of Ireland UK, Barclays Bank UK PLC, Danske Bank, HSBC UK Bank plc, Lloyds Banking Group, NatWest Group plc, Santander UK plc, TSB Bank plc and Virgin Money.