Newquay's new Banking Hub to be given temporary home in main Post Office

Thursday, 20 February 2025 00:00

Newquay’s new Banking Hub will be temporarily housed in the East Street Post Office.

In September it was announced that Newquay would get a new hub after a change in rules. Previously, towns were only eligible once all banks had closed. However, the Financial Conduct Authority's updated regulations now allow for earlier intervention. The not for profit hubs act as a one-stop shop for banking in towns with no banks or only a few remaining.

A spokesperson for Cash Access UK, which runs the hubs, told Radio Newquay: “that progress is being made, and the hub is set to open very soon.” They explained that opening a hub can take several months, involving steps such as securing a suitable property, obtaining planning permission, appointing an operator, and assigning Community Bankers from individual banks.

Yesterday it was revealed that the Central Square Post Office in Fore Street would reopen at Spar on Tower Road. The relocated branch will be renamed Tower Road Post Office and will open its doors on Thursday, 8 May. A spokesperson for the Post Office explained it will operate with significantly longer hours than before - around 84 hours per week.

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