A WELSHPOOL banking hub - which will be the first of its kind in Wales - has had the go-ahead.

Cash Access UK, which will run the new hub at 40 Broad Street, has revealed details of which banks will be involved and when the hub will be open.

The facility will be open Monday to Friday between 9am and 5pm, with Lloyds, NatWest, HSBC, Santander and Barclays all available on certain days.

Gareth Oakley, CEO at Cash Access UK, said: “The new banking hub has been anticipated by the local community for a while, that is why we are delighted to announce that we have secured a location for the hub.

"The new hub will help us to deliver improved access to cash services, making a real difference to individuals and small businesses in the Welshpool community.”

When will the new hub be open?

Community Bankers within the hub will work on rotation, with a different bank or building society available on each day of the week:

Monday: Lloyds

Tuesday: NatWest

Wednesday: HSBC

Thursday: Santander

Friday: Barclays

Powys County Council planning officers granted permission this week to erect new signage at the building - the former home of Lloyds Bank which closed in June 2022 - beginning the process of transforming it into the new hub that will offer banking facilities in the town following the closure of several branches in recent year.

The hub is designed to be a counter service, operated by the Post Office, where customers of major banks and building societies can carry out regular transactions and talk to their own banking provider about complicated issues.

Craig Williams, MP for Montgomeryshire, commented: “The new banking hub is a great investment for Welshpool and is one of the first of its kind in Wales.

“The facility will bring banking back to the High Street and support those who are reliant on access to cash.”

Russell George, MS for Montgomeryshire, added: “This is welcome news and a positive step forward in bringing vital cash and banking services back to the local community and I am pleased that one of Wales’ first banking hubs will be placed in Welshpool.”

The hub was initially proposed in August 2022, as a means for residents in Welshpool and the surrounding areas to have access to banking services following the departure of Lloyds, Barclays and Natwest.

With planning permission in place, the team at Cash Access UK are now working hard to fit out the new premises and will update the community on progress and an opening date as soon as they can.

The Welshpool Banking Hub page on the Cash Access UK website will provide updates as work progresses.