Banking hub welcomed as ‘win-win’ for Wick at official opening
Wick’s new banking hub was hailed as “a win-win” for the town at its official opening.
The five-days-a week facility is giving a new lease of life to the former Royal Bank of Scotland branch in Bridge Street, one of Wick’s most prominent buildings.
And it means face-to-face banking will continue in the town following last month’s closure of the last remaining bank branch, the Bank of Scotland, just across the road.
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.
Friday’s official opening in Wick means there are now 177 banking hubs across the UK.
Far north politicians Jamie Stone and Maree Todd both attended. Mr Stone, the MP for Caithness, Sutherland and Easter Ross, helped to cut the ribbon outside the front door of the refurbished building.
Mr Stone said later: “As long as I’ve been coming to Wick, I have always seen the Royal Bank building, or before that the Commercial Bank, as being one of the finest buildings in Wick, and it saddened me to see it shut down as a bank.
“As long as I’ve been an MP, I’ve been going on about the terrible side of bank branch closures and I remember saying to the Treasury, we should think about hubs and go down that route.
“So it is with a lot of pleasure and just a touch of pride that I have come here today to open the Wick banking hub, the northernmost one in the United Kingdom.”
Ms Todd, the MSP for Caithness, Sutherland and Ross, said: “It’s really welcome and it will benefit the entire community. It’s great to see it coming to life.
“Wick isn’t the only part of Caithness, Sutherland and Ross which is facing these challenges, and this is a great solution.
“Not only will it provide banking facilities – you can pay your bills and top up your electricity here, all of those things – but it brings back into use one of the loveliest old buildings in Wick, so it’s a win-win.
“Having these beautiful old buildings lying empty is a challenge in every High Street.”
The hub began operating on June 13 ahead of its formal opening on July 4.
A community banker service sees different banks being represented on a rota basis to deal with what are considered to be “more complicated banking matters”. Three banks have committed to that so far: TSB (Tuesdays), RBS (Wednesdays) and Bank of Scotland (Thursdays).
However, basic banking can be done any day of the week, Monday to Friday, from 9am to 5pm.
A new ATM is now operating where the former RBS cash machine used to be.
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The Bank of Scotland closed in late June. The RBS branch had closed just over seven years ago.
The former RBS building was constructed around 1830 and altered in 1864. It was once known as the Commercial Bank.
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Cash Access UK happy to bring Wick’s former Royal Bank ‘back into the community’
‘Misconception’ to be overcome ahead of Wick banking hub opening
Joy Jackson, who has been running Wick’s post office within the Poundstretcher store since 2023, has the role of banking hub operator. She will have a staff of three.
All monetary transactions that can be carried out in a post office can also be done in a banking hub. However, banking hub customers are not able to send parcels or buy stamps.
Mrs Jackson said after the official opening: “It has been good. We picked up a little bit once the Bank of Scotland closed as well.
“Hopefully it will do well and we’ll be here for a long time.”
James Wilson, senior development manager for Cash Access UK’s north region, said: “I’ve been delighted with how it turned out in the end.
“It opened two or three weeks ago so we’ve not got the full results through for the first week but from what Joy is telling us it has been busy.
“Bank of Scotland was in on Thursday for their first community banker day in the hub, because they’ve just closed across the way, and the community banker said she was really busy.
“Hopefully the transition is pretty smooth.”
Highland councillor Jan McEwan, the provost of Wick, was also present on Friday.
“It’s very modern and very welcoming, and it’s local people that are employed in it,” Councillor McEwan said.
“It’s good to have the hole in the wall outside, so that’s an additional benefit to the town.
“It’s honestly a benefit because I was a bit worried we were going to be left without anything. It is very customer-friendly.”
The post office is remaining within Poundstretcher. The post office opening times are 9am to 12.30pm, and 1pm to 4pm, Monday to Thursday.
In a social media post, Mrs Jackson pointed out: “There are a lot of questions about the banking hub where people assume it is a bank, but it’s not.
“Unfortunately, with banks closing, this banking hub is something rather than nothing.
“We also have Mondays and Fridays free for community bankers, but unfortunately, no other banks have agreed to join us... yet!
“If you would like your bank to join the hub, please contact them and make enquiries.”
Since 2018 Wick has lost its RBS, TSB and Clydesdale Bank branches as well as Virgin Money.