East Devon is gearing up to have a fourth banking hub when a new face-to-face service opens in Honiton in 2027.
The move to open the banking hub was prompted by the recent announcement the town’s Lloyds Bank branch will close in March next year.
Now LINK, the UK’s cash access and ATM network, has revealed the banking hub is expected to open in Honiton in February 2027.
Currently the hunt is on to find the right the location and property suitable for a banking hub.
A spokeswoman for LINK said: “The property search is still underway, with an expected opening in February 2027.”
The Honiton banking hub will open Monday to Friday, 9am until 5pm, and have a counter service operated by the Post Office.
Customers will be able to withdraw and pay in cash and cheques for all banks, pay utility bills, top up gas and electricity and arrange change-giving services for registered businesses.
Dr Chris Ashton, LINK chief commercial officer, said: “While more people are choosing to bank and pay for things digitally, we know that many people still rely on and choose to use cash. That’s why we’re delighted to recommend the new hub in Honiton.
“There are over 214 hubs open across the country and when it opens, the Honiton banking hub will be vital for the local community and high street.”
The community bankers will work on rotation, with a different bank available on each day of the week, which will be decided based on banks with the most customers in the area.
Customers with enquiries will be able to talk speak face-to-face to someone from their own bank about payments, transfers, account management and how to access online banking services.
Banks supporting the hubs in the UK are: AIB NI, Bank of Ireland UK, Bank of Scotland, Barclays, Danske Bank, Halifax, HSBC, Lloyds Bank, NatWest, Royal Bank of Scotland, Santander, TSB, Ulster Bank, Virgin Money.
The banking hub, run by not-for-profit Cash Access UK, is funded and supported by nine major high street banking providers.
Honiton is the ninth banking hub to be recommended in Devon with the service already running in the East Devon towns of Axminster, Seaton, Sidmouth, plus Brixham, Dartmouth, Dawlish and Teignmouth, and opening soon in Torquay.
A spokeswoman for LINK said: “Local people and businesses in Honiton will benefit from a new banking hub. Following the announced closure of the town’s Lloyds Bank branch, LINK has confirmed the banking hub as part of a wider commitment to protect access to cash.
“Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone. When opened, the hub will consist of a counter service where customers of any bank can withdraw and deposit cash and make bill payments.
“In addition, there will be private spaces where customers can speak to community bankers from their own bank for more complicated matters that require specialist knowledge or privacy.
“The banks will be working on a rotating basis, so there will be staff from different banks available on different days.”
