A quick update on the Banking Hub proposed for Otley you might have seen something about earlier in the year.
Cash Access UK, an initiative set up earlier this year and run jointly by all the big banks in the UK, announced that they had chosen Otley and seven other towns to open Banking Hubs. We checked in with them last week and they told us:
”The good news is we have a preferred property and just instructed legals in the last week, the conveyancing due diligence and fit out plans are now in progress. Once the lease has been signed we will be in a position to confirm the location.”
Each Hub has a counter service to offer easy access to face-to-face cash and banking services to pay in cash and cheques, withdraw cash, check your balance, pay utility bills, top up your gas and electricity and access change-giving services for small businesses.
We don’t know where as yet but watch this space!
Why Otley, we wonder, over everywhere else in the UK? Well, when Yorkshire Bank left town Otley BID put together a letter and report detailing Otley’s requirement for cash and sent it to Yorkshire Bank’s owners, Virgin Money, together with a proposal that they left an ATM in one of several locations Otley BID had identified round town and agreed with the property owners. We then approached LINK, which serves the main banks, and all of the independent ATM operators with the same proposal. Although we didn’t get a positive response then, we were pretty confident our report and representations to the banking industry will have found its way onto the right persons desk now. Either that or the harder you try the luckier you get…
As soon as we have any further updates we will let you know.