Access to cash (PILOTS) – Community Survey (Ilfracombe)

Following the closure of Lloyds Bank in Ilfracombe, Ilfracombe Town Council have been exploring how to make cash accessible in the town, and as importantly how to provide standalone deposit services for our many independent traders and small businesses.

Working with UK Finance we believe we have identified a way forward but to do so we need your input.

The History

In December 2021, 9 major banks announced a pioneering new approach to keep cash accessible on the high street: shared branches called Banking Hubs.

A Hub offers a counter service with basic cash services to all customers, whilst more complex enquiries will be dealt with by a representative from the member banks who visit once a week: a Community Banker.

Cash access pilot schemes

In addition to the Banking Hubs, Cash Access UK have announced a series of pilot schemes to work with communities to test new approaches to meeting their cash needs.

Over the coming months, we will be working with UK Finance to provide standalone deposit services, banking services using local facilities  and other initiatives. These will focus on cash access and cash deposits – and we’re particularly focused on deposit services for small businesses.

These pilots build on the successful Community Access to Cash Pilots in 2021 which, as well as creating the initial concept of a Banking Hub, led to the national rollout of the ‘cash at the till’ cashback service. This was first offered by PayPoint and is now available at over 8,000 convenience stores across the UK. Since its launch in 2021, over £10m has already been withdrawn through PayPoint alone, with use of the service growing every month.

As with Banking Hubs, cashback has proved particularly valuable to those on tight incomes, with the average amount withdrawn around £15 compared with the average ATM withdrawal of £80.

We need your help

With this aim, we would be very grateful if you could complete this short survey to provide us with critical insights into current needs and behaviours of the people and businesses across our community. This will enable ITC and UK Finance to design the right solutions to meet our needs.

SME and Small organisations such as charities, or community groups that use cash should complete this surveyhttps://www.surveymonkey.co.uk/r/ILFRACOMBESME

All community survey* is this onehttps://www.surveymonkey.co.uk/r/ILFRACOMBECOMMUNITY

*Hard copies of this survey can be collected and returned to The Ilfracombe Centre (Open Mon – Fri 0900-1300 & 1400-1700)

For more detailed information please contact the Town Clerk –  Alan.Matthewman@northdevon.gov.uk

GDPR disclosure:

The data from this survey is collected on behalf of UK Finance. All information is anonymous. Any personal details provided are only used for the specific purposes noted and no other purpose e.g. marketing.