A new, permanent banking hub has opened in Teignmouth today (Friday December 6).

The facility, on Bank Street, will be open Monday to Friday from 9am until 5pm. It will offer a counter service, operated by the Post Office, where customers of all major banks will be able to withdraw cash, deposit cash and cheques, pay utility bills and check account balances.

Registered business customers will also be able to collect change.

There will also be a community banker service where customers can talk to their own bank in a private space about more complicated matters on the day their bank is represented in the hub.

The community banker schedule is:

Monday: NatWest

Tuesday: HSBC

Wednesday: Lloyds

Thursday: Santander

Friday: Lloyds

Teignmouth Banking Hub Cash Access UK
The new banking hub in Teignmouth provides much needed banking facilities following the closure of all the bank branches in the town (Jo Bowery / MDA)

The new permanent banking hub replaces a temporary banking hub that has been running in Teignmouth’s Post Office since June when the town’s last bank, Lloyds, closed.

Teignmouth was chosen to receive a Banking Hub after LINK, the UK’s cash access and cash machine network, identified the need for enhanced cash deposit services following bank branch closures in the town.

Teignmouth Banking Hub Open
Teignmouth's permanent banking hub is open for business (Jo Bowery / MDA)

Including Teignmouth, there are currently six banking hubs open across Devon at Axminster, Brixham, Dartmouth, Dawlish and Sidmouth.

The new hub is owned by Cash Access UK, a not for profit company funded by ten high street banks. Its services are operated by the Post Office. However, within the Teignmouth banking hub ‘it is only post banking services and not a full post office service’ that will be available, a Cash Access UK spokesperson confirmed.

Cash Access secured the Bank Street premises in the Summer and has spent the last few months fitting out the hub.