Banking Hubs.

eskbanker

WillPS said:

eskbanker said:

WillPS said:

eskbanker said:

WillPS said:

I don't really understand why a Bank Hub is a more 'useful' thing for a neighbourhood to have than just a plain old Post Office.

A bank representative available once a week/fortnight doesn't move the dial much - presuming 30 minute appointments that's 16 customers a week/fortnight they can assist.

The only positive I can perceive is that it'll reinforce that Post Office banking services are available.

One of the valid criticisms of banks closing branches is that there are still various processes which depend on face to face discussion in branch - I can't remember off the top of my head what they all are (they're listed in threads like this from time to time) but I'm thinking of the likes of presenting ID to access/unblock accounts and signing up to certain products such as joint accounts, whereas the PO banking offerings are just rudimentary deposit and withdrawal facilities.

Yes, that's entirely true but AIUI these bank hubs aren't particularly useful for those occasions either - you can't just walk in as you can a branch and announce "I've been asked to provide bring in some ID to support an application"; you'd need to make an appointment with the specific advisor who is only available on a set day every week/other week.

It's possibly better than nothing, but only just.

I don't think it's a universal fact that hubs are appointment-only, or at least not necessarily any more so than the individual branches?

Out of curiosity, I just had a quick search and was surprised at how many of them there now are:

https://www.cashaccess.co.uk/hubs/

and the facilities they offer are documented at:

https://www.cashaccess.co.uk/hubs/community-banker-services/

I fail to see how such a service would be managed on a 1 person basis without appointments or very long, possibly fruitless, waits. Happy to be proven otherwise.

I note Barclays suggest an appointment 'might' be neccessary. I presume that means if there's free appointments you can walk in, but otherwise you'll be told to make an appointment.

My stated position that they're not adding much value over and above a Post Office remains.

I suspect that much will depend on footfall and maturity of the proposition, so perhaps walk-ins are supported initially but if/when that proves unworkable then they may switch to appointment-only.  I'm not actually suggesting that the service will be fantastic though, just challenging the assertion that "you can't just walk in as you can a branch"!

In terms of added value over PO, the services provided over and above basic deposit and withdrawal are listed as:

Transfer money between current accounts
Make a payment: limits may apply
Manage card: Report a card lost or stolen, order a replacement card, order or reset PIN
Help with or registering for online, app-based or telephone banking
Provide evidence of identity
Register a bereavement
Add / remove a third-party mandate to / from current account
Add / remove a Power of Attorney to / from my current account
Disclose additional needs and discuss support solution
Fraud / scam support
Money management or Debt advice
Register a complaint

Obviously the usefulness of these (and frequency of use) will vary by individual, but it still seems to me that they're much closer to full branch service than to PO counter, albeit restricted by accessible hours for each bank.

WillPS

Yes, with the important caveat that you can only do it one day a week (max) and there'll only be one person to deal with however many requests come in; by contrast to a branch where some of those things can be done by at any teller position whenever they are open.

My presumption is that caveat renders the potential benefit of them to be almost nil, but I'd need to know from someone who's actually tried to use one of these Bank Hubs to be sure.

eskbanker

WillPS said:

there'll only be one person to deal with however many requests come in

Again, is that a universal truth fundamental to the proposition?  It's not difficult to recognise that staffing levels won't be equivalent to those in proper branches, but that doesn't necessarily mean that there will only ever be one and only one bank employee on site on their nominated days?

WillPS

eskbanker said:

WillPS said:

there'll only be one person to deal with however many requests come in

Again, is that a universal truth fundamental to the proposition?  It's not difficult to recognise that staffing levels won't be equivalent to those in proper branches, but that doesn't necessarily mean that there will only ever be one and only one bank employee on site on their nominated days?

Given the offer the banks provide is described as a community banker, singular, and all publicity I've seen always shows a single member of bank staff, I think that's a fair assumption.

Again, happy to be proven wrong on that - but this is the proposition as I understand it.

eskbanker

WillPS said:

eskbanker said:

WillPS said:

there'll only be one person to deal with however many requests come in

Again, is that a universal truth fundamental to the proposition?  It's not difficult to recognise that staffing levels won't be equivalent to those in proper branches, but that doesn't necessarily mean that there will only ever be one and only one bank employee on site on their nominated days?

Given the offer the banks provide is described as a community banker, singular, and all publicity I've seen always shows a single member of bank staff, I think that's a fair assumption.

Again, happy to be proven wrong on that - but this is the proposition as I understand it.

The link you included earlier said "One of our team might be available on request or with an appointment", which can be interpreted in different ways - I suspect you're right though that staffing will generally be minimal, but would hope that if/when demand rises, resourcing would too, but that may be too charitable!

enthusiasticsaver

Our last bank branch is closing shortly so a banking hub is opening shortly with the collaboration of 9 national banks. As I haven’t used a bank in years I doubt I will need it but useful for those who don’t use online banking or who cannot get into our nearest city. I do use cash but just get it out of cash machines so I guess I will use that at least. 

[Deleted User]

I'm glad l started this thread it's been interesting  hearing more experience  people with regards  to this subject matter. Thank you all for your input.:)

Katiehound

A friend lives in Mablethorpe & the mobile bank from Lloyds (which was a very rare creature anyway!) has /will cease visiting. Closest banks are 15 miles away. My friend does not use the PO as it is situated in the local Co-op- no privacy & not knowledgeable staff.

I see that on the list (shown  above) it is showing a banking hub for Mablethorpe but in fact, like many of those listed they are searching for suitable premises. Unfortunately there the banking buildings have been sold off so it could be quite a while before they find a building with suitable access.

So, in reality there are not as many hubs (yet) as they would like you to believe!

TheBanker

Katiehound said:

A friend lives in Mablethorpe & the mobile bank from Lloyds (which was a very rare creature anyway!) has /will cease visiting. Closest banks are 15 miles away. My friend does not use the PO as it is situated in the local Co-op- no privacy & not knowledgeable staff.

I see that on the list (shown  above) it is showing a banking hub for Mablethorpe but in fact, like many of those listed they are searching for suitable premises. Unfortunately there the banking buildings have been sold off so it could be quite a while before they find a building with suitable access.

So, in reality there are not as many hubs (yet) as they would like you to believe!

As has been stated above, the Post Office only offer basic services - cash withdrawels and cash/cheque deposits. And they can show you your balance. Most of the transactions are done through their Chip and PIN machine using your debit card, the only exception being cheque deposits which need a paper paying in slip and are basically posted to the bank's processing centre to deal with. (They have a slightly different offer for Business customers)

So I don't see why you'd need privacy or a great deal of staff knowledge beyond how to use the computer. It's not like you're going to be discussing a loan application or asking for help with investments at the Post Office.

I don't use much cash these days, but I've used the Post Office to withdraw a few times when our last remaining ATM has been out of order. It's absolutly fine, you just pop your card in the machine, tell them how much you want to withdraw, enter your PIN to confirm and they hand you the cash. Exactly the same as happens at most bank counters.

Talking of the Co-op, what goes around comes around. Many years ago, my mum was paid by cheque from an employer who banked with the Co-op. She used to be able to cash her wages cheque in the local Co-op shop, then she'd spend the money on her shopping. 

WillPS

TheBanker said:

Katiehound said:

A friend lives in Mablethorpe & the mobile bank from Lloyds (which was a very rare creature anyway!) has /will cease visiting. Closest banks are 15 miles away. My friend does not use the PO as it is situated in the local Co-op- no privacy & not knowledgeable staff.

I see that on the list (shown  above) it is showing a banking hub for Mablethorpe but in fact, like many of those listed they are searching for suitable premises. Unfortunately there the banking buildings have been sold off so it could be quite a while before they find a building with suitable access.

So, in reality there are not as many hubs (yet) as they would like you to believe!

As has been stated above, the Post Office only offer basic services - cash withdrawels and cash/cheque deposits. And they can show you your balance. Most of the transactions are done through their Chip and PIN machine using your debit card, the only exception being cheque deposits which need a paper paying in slip and are basically posted to the bank's processing centre to deal with. (They have a slightly different offer for Business customers)

This is correct, and it's also true of Bank Hub counters too. If you have an enquiry beyond 'withdraw', 'deposit' or 'balance' their only additional lever is to advise that you return when your bank's representative is available, if they have a presence at that hub (participation varies by location).