Shared BankHUBs Open In Pilot Locations

New shared high street banks open in multiple locations

April 28, 2021
Shared BankHUBs Open In Pilot Locations
CompareBanks is reader-supported. When you click through some links on our site, we may earn an affiliate commission. Learn more

A new shared high street bank has opened in two locations in the UK as part of a pilot scheme to offer customers the chance to still have their bank nearby.

The new BankHUB branches have opened in Rochford in Essex and Cambuslang near Glasgow. They are open Monday to Friday and on each day of the week represent a different bank.

Five major banks collaborate

On a Monday, the banking hub is staffed by NatWest. It’s a Lloyds branch on Tuesday and a Santander branch on Wednesday. Thursday it becomes a Barclays branch before it ends the week as a branch of HSBC.

The services offered by each bank differ, so customers may find their options limited when they visit. For example, Santander customers can only use ATMs, make transactions on their phone with the support of staff, and use the branch to talk to the telephone banking service. Services such as reporting lost bank cards, or recovering lost login information, will be added soon.

NatWest customers have access to almost all normal banking services, including reporting a bereavement or undertaking a mortgage agreement in principle. The only restriction is on making payments worth more than £20,000.

Natalie Ceeney heads the Community Access to Cash pilots scheme and has said that more services will likely be rolled out based on demand.

We are looking to find out what other services people want so banks will understand how best to serve local people.

Natalie Ceeney

As well as the banking services, a Post Office desk is in the branch, available to customers whenever the store is open for all regular services. Visitors can use this desk to pay in change and cheques, make withdrawals and pay bills, regardless of which bank they are a customer with.

Future of high street banking

The pilot scheme is one of several being considered as more and more branches are closed around the country. In Rochford, site of one of the new BankHUB locations, many customers faced an 8-mile round trip to Southend-on-Sea to visit their local branch before this new pilot.

Other plans include shared hubs with multiple banks at one location throughout the week, such as the start-up OneBanks. However if the BankHUB pilot is successful over the next six months, then it is hoped to be rolled out across more locations in the UK later in 2021.

A third branch was already planned in Ampthill in Bedfordshire, but plans were abandoned when a suitable venue couldn’t be found. There are plans to get eight locations up and running as part of the pilot scheme.

People will need to show their support by going to these hubs in the next six months. I am concerned that people are still behaving differently during the pandemic and that some may stay away from them as a result.

Campaigner Derek French
Ian Lewis
Ian Lewis
Ian is an experienced writer with 15 years’ experience working in journalism and marketing. He’s worked in-house in financial institutions as well as writing freelance pieces for a variety of banking and financial trading websites.

Related Articles

Lloyds Declares Dividend; Buys Retirement Platform
Lloyds Declares Dividend; Buys Retirement Platform
Lloyds Banking Group has announced its latest financial results, with a £2 billion...
July 30, 2021
Tesco Bank Closing All Current Accounts
Tesco Bank Closing All Current Accounts
Tesco Bank has announced that it is to close all of its current accounts that customers...
July 27, 2021
Major Banking Websites Down On Thursday
Major Banking Websites Down On Thursday
A number of major banking websites in the UK and globally were unavailable for around...
July 22, 2021
Lloyds Group Suffers Online Outage
Lloyds Group Suffers Online Outage
Thousands of customers were left unable to access their Lloyds Bank, Halifax and...
July 20, 2021

Mentioned Banks

About Barclays Bank Barclays is a British multinational investment bank and financial services company. It was founded in 1690 and is headquartered in London. Barclays originated...
Learn More
About HSBC Bank HSBC is a British banking and financial services company. It is the largest bank in Europe and the seventh largest bank in the world. The bank originated in Hong Kong...
Learn More
NatWest, or National Westminster, is a retail and commercial bank based in the United Kingdom. It is one of the ‘Big Four’ UK clearing banks and has more than 7.5million personal banking...
Learn More
About Santander Santander UK is a British bank. Though it is a British company and autonomously managed, it is entirely owned by the Spanish Santander Group. Santander is one of the...
Learn More
Access Bank is a Nigerian multinational bank with some 305 branches located across Nigeria, sub-Saharan Africa and the United Kingdom. Founded in 1989, Access is licensed by the Central...
Learn More
About Lloyds Bank Lloyds Bank is a British retail and commercial bank. One of the ‘Big Four’ clearing banks, it was founded in Birmingham in 1765. It is the largest retail bank in...
Learn More

Comments

Leave a Comment