Jane Hutt MS, Cabinet Secretary for Social Justice, Trefnydd and Chief Whip
“Bank branch closures continue to affect communities across Wales, and we regularly see reports in the media, usually with a focus on concerns about the impact on access to cash and a reduction in face-to-face banking services.
While usage trends show some renewed demand for cash, especially among those using cash to support budgeting, the broad trend is downward. However, it is essential that we preserve access across Wales ensuring inclusivity of services.
Although ‘financial services’ is a reserved matter, with responsibility resting with the UK Government, financial inclusion is a key priority for Welsh Government.
I am pleased that the UK Government has pledged to establish at least 350 banking hubs across the UK. The network of these across Wales continues to expand - there are twelve shared banking hubs now open in Wales with three further in the process of being established, these will be in Chepstow, Gorseinon and Holyhead. These banking hubs are a lifeline for local communities that have lost their final bank branch.
The hub already operating in Porthcawl is one of the busiest across the UK. The hub in Treorchy is also unique in Wales as it is located within a supermarket rather than a post office or standalone premises. A pilot is also being trialled at the Treorchy hub through the presence of a Customer Liaison Officer, providing general assistance and signposting to customers and providing a safe space for customers to connect with their bank, either via the Community Banker or telephony…”
Please visit the GOV.WALESwebsite to read the announcement.