Banking hub in former RBS hailed as ‘a success story for Wick’
The decision to set up a banking hub in Wick has been hailed as “a success story” for the town.
The five-days-a-week facility is to be located in the former Royal Bank of Scotland building in Bridge Street, which closed almost seven years ago.
It will be ready to open when the town’s last remaining bank branch – the Bank of Scotland, on the opposite side of Bridge Street – shuts in June.
Details of how the hub will operate were outlined at a public meeting attended by about 80 people in the Assembly Rooms on Thursday night.
Banking hubs are owned by Cash Access UK, a not-for-profit company owned and funded by nine major banking providers, and are operated by the Post Office.
There are now 107 hubs across the UK, helping to meet the continuing demand for face-to-face banking against a backdrop of widespread branch closures.
A presentation was given by Lesley Wilson, community engagement officer for Cash Access UK in Scotland and Northern Ireland, and her husband James, senior development manager for the north region, which extends from Manchester to Wick.
The Royal Burgh of Wick Community Council (RBWCC) has been working closely with Cash Access UK over the past few months.
RBWCC vice-chairman Allan Bruce told the audience: “The last bank on the street, the Bank of Scotland, is shutting at the end of June, and we’re going to be lucky to have this [the banking hub]. We see it as a real positive for the town.
“No doubt there are going to be a few teething problems at the start but, having worked with these two up until now, I honestly think that it’s a success story for Wick and we look forward to getting the doors of the banking hub open.”
Earlier, Mrs Wilson had explained that the hub will have a counter service, run in collaboration with the Post Office, along with a community banker service.
Customers can use the counter service to withdraw and pay in cash and cheques, check their balance, pay utility bills and top up their gas and electricity.
“Community bankers take it in turns to visit the hub,” Mrs Wilson said.
“The community banker service is where we have separate private rooms within the banking hub and that’s where a different bank on each day of the week will be represented. You’ll be able to do more complicated banking matters.
“They will be there from 9am to 5pm on their allocated day. The rota will be printed in the front window within the hub.
“If you’re just wanting to do your basic banking, you can do that any day of the week between Monday and Friday, 9am to 5pm.”
Replying to questions from the audience, Mr and Mrs Wilson explained that the daily maximum deposit will be £4000 and that the hub’s ATM will be external – in the same space that was used for the Royal Bank cash machine.
Joy Jackson, who has been running Wick’s post office within the Poundstretcher store since June 2023, will have the role of banking hub operator.
She stressed that the existing post office is “staying put” and she will be dividing her time between the two. The post office opening times are 9am to 12.30pm, and 1pm to 4pm, Monday to Thursday.
“Poundstretcher has made me feel very welcome there,” Mrs Jackson said. “If I'm not at the post office I’ll be at the hub.
“I’m hoping to keep my hand in doing the physical side of serving as well as making sure that it’s running well and it’s staffed and it’s open every day, Monday to Friday.”
She added: “The fact that they’ve got banking representatives coming up and you can have a face-to-face, I think that’s important.”
RBWCC chairman Allan Farquhar said: “We’ve been absolutely delighted with the way things have developed with Cash Access UK and the local community, and the owners of the property as well.
“It’s going to be a big boon to the town so we really appreciate the effort by Cash Access UK and Joy. There’s a good team.”
Cash Access UK confirmed on Tuesday that a lease had been signed for the former RBS, which has been disused since closing in May 2018.
More information about banking hubs can be found on the Cash Access UK website. Noting that “cash is still important to millions of people in the UK”, it says: “Digital or online solutions don’t yet work for everyone all the time. We’ve found that banking hubs and other services can make a real difference to individuals, small businesses and the communities they live in.”
Since 2018 Wick has lost its RBS, TSB and Clydesdale Bank branches as well as Virgin Money. After the Bank of Scotland closes its doors, the nearest high street banking outlets will be 21 miles away in Thurso.
