Former Newquay store set to become new Banking Hub

Newquay’s former M&Co store is set to become the home of the town’s new Banking Hub.

A planning application has been submitted by Cash Access UK Ltd, which operates hubs that bring together banking services from different banks under one roof.

The application for number 43 means Bank Street could once again house a bank, after Lloyds, NatWest and HSBC all vacated the street.

The plans are for the “proposed installation of banking hub signage including externally illuminated fascia signs”.

The hub will provide services to both personal and business customers. Customers of any bank will be able to withdraw and deposit cash, make bill payments and carry out routine transactions.

Private spaces will also be available for meetings with community bankers from different banks on a rotating basis, offering support with more complex issues.

Newquay is among the first towns in the UK to receive a hub under new Financial Conduct Authority rules which changed last year. Previously, towns were only eligible once all banks had closed, but updated regulations allow earlier intervention.