Shadow Chancellor of the Exchequer Rachel Reeves visited Knaresborough banking hub on Friday.

Ms Reeves joined shadow Business Secretary Jonathan Reynolds and shadow Economic Secretary Tulip Siddiq at Kirkgate.

Reeves hailed the hub, which opened on November 17, as an example of what the Labour Party would like to see across the country if it wins the next general election, which is expected to take place in 2024.

Labour has committed to setting up at least 350 banking hubs following a 64 per cent drop in the number of banks in Yorkshire since 2015.

Ms Reeves said:

“There’s now 20 banking hubs around the country.

“Banking hubs are there to replace bank branches because Knaresborough was without a bank for three years.

“[There’s] not a single bank branch in this town and banking hubs are an alternative to banks.

“When there are no banks left in the town the idea is that the banks come together to open a hub that you can use whichever bank you’re with, but there’s only 20 of them and we know that there are many more high streets in towns and villages that don’t have banks at all.

“Labour is making a commitment today that in the first term of a Labour government, we would open at least 350 banking hubs so that more people have access to banking facilities and to cash, which is something that unfortunately today too many people don’t have access to.”

Ms Siddiq added:

“When a local community no longer has access to a bank branch, we know it is the poorest in society along with high street businesses who lose out the most from the loss of vital in-person services.”

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Knaresborough photographer Charlotte Gale came to get cash from the banking hub and speak to the three members of Sir Keir Starmer’s shadow cabinet about why she needs cash for her business.

Ms Gale said:

“I always run out of 5ps.

“That’s the way my stuff is priced – it’s 95p.

“There’s always a struggle to get a 5p.”

Alongside its plans to bring back banking to communities, Labour also pledged to give councils the power to tackle shuttered-up shops, tackle antisocial behaviour and shoplifting through dedicated police patrols, replace business rates with a fairer system and end late payments to support small businesses.

Mr Reynolds said:

“Under the Conservatives, our high streets have been allowed to fall into decline, with more and more high street anchors like banks closing.

“Labour will put an end to boarded-up premises and ghost high streets with our plan to bring banks back to the high street, fix business rates, tackle empty properties and get police back on the beat on your high street.”

In Yorkshire and the Humber 464 banks – or 64 per cent – have closed since 2015 and just 264 remain open.

This is the second biggest percentage of bank closures in the country, with 66 per cent of banks being closed in the south-west.

In the whole of England, there are 3,208 bank branches.

A banking hub in Knaresborough has officially opened its doors to customers.

An opening event was held at the site on Kirkgate this morning.

Cash Access UK, the not-for-profit company set up by 10 major high-street banking providers to protect the public’s access to cash, is behind the new facility.

Officials from the company, Harrogate and Knaresborough MP Andrew Jones, local councillors and the town crier were all in attendance at the official opening.

Cat Farrow, chief operating officer at Cash Access UK, said:

“Knaresborough is really thriving.

“It has got a lot of small businesses and people who need access to cash.”

Mr Jones, who cut the ribbon, described the hub as a “huge community asset”.

Knaresborough town crier at the opening of the banking hub.

The hub, at 15 Kirkgate, Bowling Green Yard, offers a counter service operated by the Post Office, where customers of all major banks and building societies can carry out regular cash transactions, from Monday to Friday.

It also provides a community banker service where customers can talk to their own bank about more complicated issues.

The hub is open on weekdays between 9am and 5pm and the community bankers will work on rotation, with a different bank or building society available on each day of the week: NatWest on Mondays, Halifax on Tuesdays, Santander on Wednesdays, HSBC on Thursdays, and Barclays on Fridays.

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Knaresborough’s new banking hub will officially open its doors to customers for the first time next week, the organisation behind it has revealed. 

Cash Access UK, the not-for-profit company set up by 10 major high-street banking providers to protect the public’s access to cash, has confirmed the hub will be opened by Andrew Jones, MP for Harrogate and Knaresborough, at 11am on Friday, November 17.  

Gareth Oakley, chief executive of Cash Access UK, said: 

“Access to cash services is vital to millions of people in the UK, therefore we are pleased to announce the opening of the banking hub in Knaresborough.

“Upon the opening of the banking hub, local businesses and residents will benefit from improved access to cash.” 

The banking hub, at 15 Kirkgate, Bowling Green Yard, will offer a counter service operated by the Post Office, where customers of all major banks and building societies can carry out regular cash transactions, from Monday to Friday.  

It will also offer a community banker service where customers can talk to their own bank about more complicated issues.  

The banking hub will be open on weekdays between 9am and 5pm and the community bankers will work on rotation, with a different bank or building society available on each day of the week: NatWest on Mondays, Halifax on Tuesdays, Santander on Wednesdays, HSBC on Thursdays, and Barclays on Fridays. 

Charlotte Gale, of Knaresborough & District Chamber, said:  

“Improving banking and cash access for Knaresborough’s businesses and residents is something chamber are very passionate about.

“This is something we’ve long campaigned for and it’s been a pleasure to support the team at Cash Access UK in launching this exciting project.” 

Banking hubs are being created across the UK and are funded and supported by nine major high-street banking providers: Bank of Ireland UK, Barclays Bank UK PLC, Danske Bank, HSBC UK Bank plc, Lloyds Banking Group, NatWest Group plc, Santander UK plc, TSB Bank plc and Virgin Money.  

Knaresborough was chosen to receive a banking hub after LINK, the UK’s cash access and cash machine network, identified the need for enhanced cash deposit services following bank branch closures in the town. 

Andrew Jones, MP for Harrogate and Knaresborough, said:

“The banking hub will be invaluable to residents and businesses in Knaresborough and be welcomed by those who rely on cash and face-to-face banking.”

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A plan has been approved to convert part of a grade-II listed former Knaresborough mill into a banking hub.

Cash Access UK submitted the proposal to North Yorkshire Council for the building on Kirkgate in the town.

The mill was built in the 18th century and was most recently used as a tile showroom.

It will see the ground floor of the former mill converted into a banking hub, which will offer a counter service operated by the Post Office where customers of all major banks and building societies can carry out regular cash transactions.

It will also provide a community banker service where customers can talk to their own banking provider about more complicated issues, from Monday to Friday, 9am to 5pm.

The company identified the former mill as its site for the banking hub in June.

At the time, Gareth Oakley, chief executive at Cash Access UK, said:

“We know the new banking hub has been eagerly anticipated by the local community and so we’re delighted we’ve now been able to secure a fantastic location for you in the heart of the community.

“This brings us a significant step closer in being able to deliver improved access to cash services to individuals and businesses in Knaresborough.”

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The introduction of a banking hub was among plans unveiled by Ripon Business Improvement District at its annual review meeting this week.

Sine the BID launched in autumn 2021, banking facilities in the city have reduced with the closure of the Barclays and Halifax branches, leaving HSBC as the only high street bank with a presence in Ripon.

A banking hub would provide a counter service where customers of major banks and building societies can carry out cash transactions. One is set to open in Knaresborough after it lost its last high street bank.

BID manager Lilla Bathurst told Monday’s meeting at the Old Deanery:

“We are seeking to bring a banking hub to Ripon to enable businesses to access and deposit cash more readily than they can at the moment.”

The HSBC Bank on Westgate.

The BID, funded through a £170,000 annual levy raised from businesses in Ripon and the surrounding area, is also looking to support the fight against crime.

Ms Bathurst said:

“We plan to invest in a Radiolink scheme for businesses to reduce shop theft and antisocial behaviour, by having a means of sharing information with each other about suspicious characters or perceived threats that they see.

“We will also ensure that all night-time economy businesses are offered this.”

The review meeting marked the BID’s second year of operation.

Ms Bathurst said the highlights included a reinvigorated events calendar featuring live music, street parties run as part of the Totally Locally campaign instigated by independent traders in Kirkgate and support for the Ripon Theatre Festival in June, which saw an 86 percent increase in audience numbers.

The BID supported the festival in its inaugural year of 2022 and this year and will again be a sponsor in 2024.

Other BID activities in the year included the installation of new boundary signs and the creation of walking maps that encourage visitor flow around the city and work in conjunction with refurbished noticeboards that contain mapping, tourist and regularly updated events information.