Redruth has been recommended for a Deposit Solution in order to bring back banking facilities to the town, returning a much needed business hub.
Since the closure of the Lloyds Bank in October 2022 and the Post Office in July 2023, Redruth Town Council has been working with Link UK and the Post Office to reinstate banking and cash services, in particular for business banking. The town has now been recommended as a location for a Deposit Solution Hub which will be a facility to pay in and withdraw cash and undertake simple banking service transactions.
Town Mayor Councillor Stephen Barnes said: “This is great news for Redruth as both residents and businesses have felt the loss of our last bank and the Post Office and the lack of access to cash. It’s testament to the work done behind the scenes by the Town Council and Link UK that we have had the recommendation and now we can’t wait to work with Cash Access UK to implement the Deposit Solutions Hub.”
Full details are yet to be confirmed, however, the Town Council will now work with Cash Access UK to decide on the location for the Hub and confirm timescales. In the meantime, the Town Council will continue to work with the Post Office to restore post office services to Redruth Town Centre.
The take away, however, is that the town’s quest to restore vital banking services to Redruth has reached a promising milestone with the town’s recommendation for a Deposit Solution Hub.