New cash hub offering bank branch services opens in Rutland

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

A new cash hub where five different banks will set up shop on a different day of the week has opened in Rutland.

The hub at the former Lloyds building in Oakham town centre will offer a counter service operated by the Post Office.

It has been set up in response to the amount of bank branches which have been closed due to a rise in cashless payments and online services.

The hub, which is run by Cash Access UK, opened on Friday.

Its services will be available to Barclays customers on a Monday, NatWest customers on Tuesday, Santander on Wednesday and Lloyds on Thursday.

HSBC customers will be able to use the services on Fridays from 21 June.

'Fantastic news'

Gareth Oakley, CEO at Cash Access UK, a not-for-profit organisation created by the nine of the UK's biggest banks, said: "I'm happy to announce that we have opened a banking hub in Oakham, the first in Rutland.

"It's a positive development for local residents and businesses and will make a great difference to Oakham's high street."

Alicia Kearns, MP for Rutland and Melton, said: "Oakham's new banking hub is fantastic news for our community and for all those who rely on cash and face-to-face banking.

"This new community asset will offer improved access to banking locally, with five different banks operating from the same site, outstripping the banking provision in most local towns."