New banking hub for town opens for business

The initiative, led by Cash Access UK, aims to safeguard access to cash and banking services across the UK, and the opening in West Lindsey has been warmly welcomed by the local councils.

The official ribbon-cutting ceremony took place on Friday with chairman of the council, Coun Stephen Bunney and Mayor of Market Rasen Town Council, Coun Jo Pilley.

The Hub’s establishment marks a significant milestone for the area, bringing much-needed banking services back to the heart of Market Rasen.

Coun Bunney expressed his enthusiasm for the project which he described as a real ‘positive’ for the town. He said: “Three years ago, this building was in a very sorry state – it has been empty for a number of years and was passing from one developer to another – the condition of the building was deteriorating fast – a definite eye sore in the centre of our town, there was a strong health and safety concern that any time it could collapse.”

West Lindsey District Council has championed this initiative and led a team that have worked with 8888 Capital Group sympathetically restoring the building which Coun Bunney described as a ‘a high standard that we can all be proud of’.

Market Rasen Historic Building Grant Scheme awarded the project a grant of £66,603 to improve and conserve the historic building, using traditional materials and techniques in keeping with the heritage of the area.

Coun Bunney added: “It is with great pleasure and pride that I formally open this facility and in doing so I wish Martin Sizer (from the Post Office) and his staff and all participating banks every success in their venture.”

The new Hub offers a counter service operated by the Post Office, available Monday to Friday from 9am to 5pm, where customers of all major banks can carry out routine cash transactions. Additionally, it provides a Community Banker service, enabling customers to consult with representatives from their own banks about more complex issues on designated days: Monday HSBC; Tuesday Lloyds; Wednesday Santander; Thursday NatWest; Friday Halifax.

Coun Jo Pilley, Mayor of Market Rasen Town Council said: “We have needed this kind of facility in Market Rasen for so long. It is lovely to see it come together. As a town council, we welcome this kind of initiative as this is the only bank we have in the​​​​​​​ town and it’s ideally located with a bus stop outside.”

Finding the right location for a Banking Hub that is convenient, accessible and works for everyone often takes time, so Cash Access UK is delighted to have been able to secure convenient premises in the heart of the community. The team has been working hard to fit out the premises over the past few months in preparation for the opening.

The Hub was recommended by LINK, the UK’s cash access and ATM network, following confirmation of the closure of the town’s last bank branch.

Market Rasen’s Hub is the third Banking Hub to open in Lincolnshire following Mablethorpe and Barton-upon-Humber.

Gareth Oakley, CEO at Cash Access UK: “We are happy to announce that the Market Rasen Hub is now open. Access to cash and face-to-face services are vital for millions of people across the country so we’re delighted to continue providing these services for the local community. Customers can visit on any day of the week for their everyday banking transactions and if you have a specific or more complex enquiry for your bank, a community banker will be there to help on the day they’re in the Hub.”

Martin Sizer, who is the postmaster at Tealby and well known in the area, is also supporting the Banking Hub. He said: “A week ago there was no bank in Market​​​​​​​ Rasen and now there are five banks represented. There is a Post Office around the corner and that is not going to close because at this facility, we only do banks and paying for bills, etc - you can’t deliver parcels, etc here.”

If you would like to know more about the Banking Hubs, contact: [email protected].​​​​​​​