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A new “banking hub” for Risca has moved a step closer, after plans for the facility were submitted to Caerphilly County Borough Council.
It will replace the Barclays branch on Tredegar Street, which closed down in May and is currently vacant.
The applicant, Cash Access UK Ltd, plans to offer a shared service at the hub – which will host different banking firms at different times.
What is a banking hub?
Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone. The hub will consist of a counter service operated by Post Office employees, where customers of any bank can withdraw and deposit cash, make bill payments and carry out regular banking transactions.
There will also be private spaces where customers can speak to staff from their own bank for more complicated matters on set days.
A Post Office counter will offer basic banking services such as paying in cash and cheques, withdrawals, balance enquiries, paying utility bills, and topping up gas and electricity accounts.
After news of the branch’s closure broke last year, LINK, the organisation which operates the UK’s cash machine network, recommended Risca for a banking hub, which is now going to be operated by Cash Access UK.
The hub will host “community bankers” from different firms on a rotating basis, and there will also be a private space where customers can talk to staff about more detailed enquiries or services.
Nine firms currently support the hub service across the UK, but the list of banks which will be present in the Risca branch will be announced “nearer the time”.
The plans submitted to the council show the first floor of the premises, along with some back-of-house space on the ground floor, will be mothballed.
The hub will mainly comprise a counter area and office.
A design statement by planning agents Ridge and Partners LLP also shows there will be wheelchair access throughout the building.
Three jobs could be created at the new hub, which Cash Access UK intends to be open between 9am and 5pm on weekdays.
The project has won the support of Risca West ward councillors Bob Owen and Ceri Wright.
“The more that can be done to expedite the opening of the banking hub in Risca, the better,” said Cllr Wright in her comments to the council’s planning department.
The application is currently out for consultation, and can be viewed on the Caerphilly County Borough Council website under reference 24/0629/FULL.
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