Knaresborough’s banking hub could be open by the end of the year after a meeting last week put plans in motion.

The closure of the Halifax bank on Market Place last year left Knaresborough without a bank and just two ATMs, which often run out of cash.

In December, Knaresborough was picked to be one of five pilot areas for new shared banking hubs by the Access to Cash Action Group.

Under the scheme, a building in Knaresborough will provide help with general banking queries and more specific issues, such as power of attorney and opening accounts.

Representatives from various banks will work in the hub on a rotational basis. The hub itself will be fitted out by the Post Office.

Last week, representatives of the town including the mayor, Cllr Christine Willoughby, borough councillor Phil Ireland and Knaresborough Chamber of Trade and Commerce representative Charlotte Gale met with the action group to discuss what Knaresborough needs.

Businesses have said the town needs an additional ATM and for banks to be open later than usual business hours.

Ms Gale took these points forward to a meeting with the action group yesterday. She said:

“It’s been challenging for businesses with the pandemic but losing the last bank in Knaresborough was an additional stress. We need to manage expectations but the hub will definitely allow people to pay in and take out cash and get the advice they need.

“We’re still talking to locals about what they need, the managing groups wants to make sure the solution meets the needs of the town.”

A location for the bank is still yet to be decided. A number of empty high street units have been suggested including the former Fultons Foods unit on the high street

The former Fultons Foods

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Cat Farrow, from the Access to Cash Action Group, said:

“We understand how important the new banking hub will be to Knaresborough and we’re working hard to make it happen as quickly as possible. The hub is fully funded and we’re actively exploring a number of possible sites.

“We’re confident that the banking hub will be open before the end of the year.”

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Banking facilities look set to return to Knaresborough next year after the town was selected to be one of five pilot areas for new shared banking hubs.

Knaresborough’s last bank closed this year, leaving just two high street ATMs, which often run out of cash.

The Access to Cash Action Group identified the areas in the UK most in need of additional banking facilities to become pilots.

Under the scheme, which is supported by banks, consumer groups and small business organisations, a Knaresborough location will be sought to provide at least one cash machine and banking services.

It is hoped that representatives from the various banks supporting the scheme will operate on a rotational basis in the Knaresborough hub.

They will be able to help with general banking queries and more specific issues, such as power of attorney and opening accounts.

Knaresborough Mayor, Cllr Christine Willoughby, tweeted about the proposed bank today and said she’d received a lot of excited and positive feedback from local businesses.

She said:

“I’m excited, I think it’s what we need. Our pleas have been answered, we’ve been struggling for some time with just the Post Office and two ATMs. I hope we can have some meaningful discussions in the new year.

“Bring it on.”

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A statement by the Access to Cash Action Group said the move was part of measures designed to “mark the beginning of a long-term commitment to ensuring widespread cash and banking access for communities where services are limited”.

It added units previously used by banks were ideal locations because it made planning permission easier to obtain.

Open by Easter?

It is hoped Knaresborough’s banking hub will open by Easter, but the group said it was too early to give a definite timeframe.

Natalie Ceeney, chair of the Access to Cash Action Group, said:

“We know that demand for cash is declining, but we also know that it continues to play a vital part in the lives of at least five million people in the UK – including some of the most vulnerable in society. The community pilots have shown that there are many different ways to meet people’s cash needs.

“Informed by this experience, I’m confident that the new plan will lay the foundations for a positive future for cash access across the UK.”

As well as Knaresborough, other sites identified for hubs are Acton in west London, Brixham in Devon, Carnoustie in Angus and Syston in Leicestershire.