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New banking hub in Norfolk town ‘welcomed’

Wednesday, 3rd April 2024 | UK banking

The manager of a banking hub that has opened in a Norfolk town says the service has been “well welcomed”.

The hub, which is temporarily being housed in the Downham Market town hall, has allowed people to withdraw and deposit money and meet with a community banker throughout the week.

It is one of four banking hubs in Norfolk, alongside Holt, Harleston and Watton.

Parvin Begum, who runs the new Downham Market banking hub, said: “It’s a wonderful thing because all the banks are under one umbrella – they are working together.”

The banking hub, which has been waiting to move into its permanent premises on the high street, opened in the town hall in February.

Ms Begum said she believed one of the reasons for introducing banking hubs was due to a reduction in footfall in individual bank branches.

“I think this will be the next big thing for every high street… it’s a wonderful thing because all the banks are under one umbrella [and] are working together.”

The hub allows customers from any bank to withdraw cash, deposit money and cheques, and gives them access to five community bankers throughout the week.

Yet she wished the hub was able to cater for more facilities and services, so that customers do not have to travel to a main bank.

‘Use it or lose it’

Jamie McGuffog Jamie McGuffogJamie McGuffogJamie McGuffog said people need to “get behind” the new banking hub

Jamie McGuffog, who used to work for Lloyds Bank and is now the director of Beds of Paradise in Downham Market, described the hub as “slick”.

“The nice thing with the banking hub as opposed to the Post Office, is anyone in the queue is there to do banking only transactions, they are not applying for a passport or taxing a car.”

He said that people have got to “get behind” and support the new hub.

“With shops or any of these types of services it’s a case of use it or lose it.

“It’s currently in the town hall, which is not visible. I think word is getting round that it’s there but you can’t actually see it… having used it, it’s a slick little set up,” he said.