A new banking hub offering access to all major banks is due to open in Kenilworth later this year.

Cash access network LINK announced last year that Cash Access UK would be bringing a hub to town, following the news Lloyd's will close its Kenilworth branch in February 2025.

A location for the new hub has been found - but details are yet to be made public.

An update to Kenilworth Town Council said the permanent hub is hoped to open in the autumn, with a temporary location coming this spring.

"The building works on the new permanent banking hub are currently planned to start in July," an update from Cash Access UK to the town council said. 

"All being well, we are hopeful of a potential September/October opening of the banking hub, as long as we don't hit any unexpected delays."

Speaking at last week's council meeting, leader Cllr James Kennedy added: "They have identified a property and are in negotiations with the landlord for a permanent banking hub. 

"When the lease is signed they will be able to release the location."

The hub will allow residents to access banking services even if their bank does not have a local branch.

The hub will consist of a counter service operated by Post Office employees, where customers of any bank can withdraw and deposit cash, make bill payments and carry out regular banking transactions.

In addition, there will be private spaces where customers can speak to community bankers from their own bank for more complicated matters that require specialist knowledge or privacy. The banks will be working on a rotating basis, so there will be staff from different banks available on different days.

There are over 80 banking hubs in the UK already.

Lloyds announced the closure of its Warwick Road branch in 2024, saying just 511 customers visit in person on a monthly basis.

Councillors have since highlighted how this could leave some residents, charities and businesses vulnerable.

Halifax, HSBC and Barclays have all also closed their local branches. Nationwide now only operates limited hours.