LINK reveals Forres as one of four Scottish towns – others are Brechin, Carluke and Kirkcudbright – to get a banking hub

FORRES is one of four towns in Scotland which will get a shared banking hub.

Kirkcudbright, Carluke and Brechin are the other towns to benefit from the announcement by Link, the biggest interbank provider in the UK.

Forres currently has no remaining banks after the Bank of Scotland was the last local branch to close earlier this year.

Communitities across Scotland and the UK have been impacted by a huge number of branch closures.

"Cash is disappearing at a frightening rate, and so are ATMs and branches and it is not acceptable to leave communities without access to cash," John Howells, chief executive of Link, told BBC Radio 4's Today programme.

At these hubs, run by the Post Office, customers of any bank can access their accounts, deposit cash and cheques, and withdraw money at any time. Trickier enquiries are dealt with by a representative from one of each of the major banks who will visit once a week.

Running costs are the same as a small branch, but are shared between different banking groups that use it.

Natalie Ceeney, who chairs the Cash Action Group which is overseeing the project, told the BBC: "Cash still matters hugely to millions of people across the UK and with the cost-of-living crisis biting, more and more people are turning to cash as a way of budgeting effectively. Banking Hubs are an important part of the solution."

Moray MP Douglas Ross said he was "absolutely delighted" by the news.

Mr Ross had a positive meeting with Link and Access to Cash representatives in June to discuss how a banking hub could be brought to the town.

He added: “A town and community the size of Forres should never been disgracefully abandoned like they have been in recent years by major banking branches. What was worse was that these bosses clearly were not interested in the concerns of loyal customers and could not be bothered to come to Forres to hear from them.

“I was determined to find a solution for elderly and vulnerable customers in Forres in particular who need access to banking services on their doorstep, as well as businesses who want to be able to deposit cash and takings where they’re based.

“This is a very positive step forward for the future of banking services in Forres and I look forward to these plans developing at pace in the coming weeks and months.”