New Banking Hub to Open in Monmouth as Part of UK-Wide Cash Access Initiative

Monmouth, Wales, has been selected as one of 15 locations across the UK to receive a new banking hub, a vital step in ensuring continued access to cash for local communities. These banking hubs are designed to support both personal and business customers, offering essential services such as cash deposits and in-person banking consultations.

The new banking hub initiative aligns with the Financial Conduct Authority’s (FCA) updated regulations, which aim to preserve cash access despite the ongoing trend of branch closures. Banks and building societies are now required to evaluate whether changes in local banking services impact cash access. Residents and businesses can also request community assessments if they believe their access has been compromised.

The Monmouth banking hub will be part of a network of 81 hubs managed by Cash Access UK, a bank-owned company tasked with delivering these services nationwide. With a shared Post Office counter service and rotating bank staff offering more complex financial support, the hub will be a critical resource for those who rely on cash in Monmouth and surrounding areas.

Adrian Roberts, Deputy CEO of Link, highlighted the importance of these new facilities:

“Today is an important moment for the millions of people across the country who either rely on or prefer to use cash on a regular basis. The new rules that have come into effect today are great news for consumers and businesses and will ensure that access to cash continues to be available on our high streets for years to come.”

In Wales, Monmouth will benefit from these developments, ensuring local businesses and consumers can continue to access vital banking services without having to rely solely on digital platforms. As the shift toward a cashless society accelerates, these hubs offer a lifeline to those who prefer or depend on cash.

Locations of New Banking Hubs in Wales and UK

• Wales: Monmouth (Monmouthshire)
• England: Sidcup (London), Normanton (West Yorkshire), Hailsham (East Sussex), Frome (Somerset), Sheerness (Kent), Whitley Bay (Tyne and Wear), Rugeley (Staffordshire), Newquay (Cornwall), Market Harborough (Leicestershire), Thetford (Norfolk), Morecambe (Lancashire)
• Scotland: Huntly (Aberdeenshire)

Monmouth’s new banking hub comes at a critical time, as communities across Wales seek to balance the benefits of digital banking with the need for physical cash services.