A former Filey amusement arcade is set to become a banking hub as new rules on protecting access to cash come into force.
The former Holdsworth Amusement Centre at 38 Belle Vue Street in Filey could become a banking hub if plans are approved by North Yorkshire Council.
The hub is designed to enable consumers and small businesses to access cash, deposit and basic banking services, with hundreds proposed across the UK.
It follows a number of bank branch closures which have particularly affected the Yorkshire coast.
Commenting on the planned rollout of 350 banking hubs over the next five years, Tulip Siddiq, economic secretary to the Treasury, said: “This will protect access to in-person banking services and breathe new life into our high street.”
In addition to the conversion of the ground floor property, the applicant Cash Access UK, would install new illuminated signs on the front of the building and would also install an air conditioning condenser unit at the rear of the site.
The first, second and third floors of the early 19th century mid-terraced building are used for accommodation as residential flats.
Cash Access UK is a not-for-profit company set up by a number of UK banks and building societies to facilitate the provision of a range of services including shared banking spaces on local high streets.
It comes as new rules from the FCA to protect access to cash have come into force meaning that existing cash services will not be removed before replacement services are in place.
This week, LINK, which manages the UK’s cash access and ATM network, reassessed the needs of local areas where banking services are changing and 15 communities, which had not previously been assessed as needing a banking hub, will now get one.
In North Yorkshire, banking hubs have been recommended in Filey, Whitby, Richmond, Wetherby, and Knaresborough.
Adrian Roberts, the deputy CEO of LINK, said: “The new rules that have come into effect are great news for consumers and businesses and will ensure that access to cash continues to be available on our high streets for years to come.”
According to submitted plans, the design of the hub in Filey would be “very much in keeping with the character of the area and the historical character of the building and will have very little impact on surrounding properties”.
Works to the currently vacant property would also ensure that it was wheelchair accessible “throughout the building”.
North Yorkshire Council has not set a date for deciding on the application for Filey’s banking hub which is currently open to representations.
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