Rutland and Melton's MP, Alicia Kearns, has said that she is striving to get more of an update on Oakham's proposed banking hub, but that she expects it to open in early 2024.

HSBC due to close their Oakham branch this year, with 114 branches closing in total, but this was delayed until a banking hub can be set up in Rutland's county town.

Oakham's Loads closed last year, while Barclays closed at the end of April, making this hub even more important for the locals.

Barclays, Oakham High Street. Image credit: Nub News.

Cash Access UK, a cash access network, will be providing this hub, which would work on a rotating basis, with staff from various banks available on different days.

Barclays and HSBC have confirmed that they will have staff at this banking hub on a rotating basis. Find out more here.

However, there has not been an update for some time, leading Rutland and Melton's MP to speak out about the hub.

Alicia Kearns said: "Many Rutlanders have been in touch asking how our new Banking Hub will work and when it will be up and running, so let me share what I know at this point.

"We’re currently served by HSBC alone, which has decided to close its branch in Oakham. Whilst this is disappointing, I’ve worked with HSBC to ensure that it does not close until our new banking hub opens in Oakham.

"The good news about the new hub is that we’ll now have many banks serving us in Rutland, rather than just one.

"Monday to Friday the Cash Access UK Hub will work on a rotating basis, where representatives from different banks will be available on different days of the week to assist customers with banking queries and needs. Different banks will operate on specific days so you know which day it’s Barclays or Santander etc.

"However every day banking services for any of the partner banks will be provided no matter which bank you are a customer at, it’s just that on each day the customer service representative will represent a specific bank so those with more complex discussions can come in for detailed discussions with their particular bank.

"While the majority of customers are now choosing to bank via phone or online, I am very pleased that the new Banking Hub in Oakham will continue to provide the option of face-to-face cash and banking services on a daily basis for members of our communities - and actually increase the services available because more banks will be represented on our high street.

"As soon as I receive confirmation of the opening date for the new Banking Hub, I will update you further. I expect this to be early 2024."