A GWENT town that is among the dozens set to lose their branch of Barclays this year has had its status as a location for a banking hub confirmed, in a bid to relieve some residents' concerns. 

Risca, a town in the Caerphilly county borough, is set to lose its bank in May this year after banking company Barclays announced plans to close the branch back in May last year. 

At that time, it was revealed that the plans for a banking hub in Risca had been approved, and now independent councillor for Risca ward Robert Owen has been attempting to allay local residents' concerns. 

Cllr Owen shared a recent post detailing the plans for a banking hub in Risca, and said he had been told by the manager of Barclays Risca that "the bank would maintain a presence in Risca in the short term", with the hub set to provide Barclays and other providers the opportunity to return. 

LINK, the organisation which operates the UK’s cash machine network, said it will open a banking hub in Risca for customers to access face-to-face banking services.

The hub is due to open later this year.

LINK believes the town will benefit from a new banking hub as part of a wider commitment to protect access to cash.

The hub will consist of a counter service operated by Post Office employees, where customers of any bank can withdraw and deposit cash, make bill payments and carry out regular banking transactions.

There will be private spaces where customers can speak to community bankers from their own bank for more complicated matters that require specialist knowledge or privacy.

Cllr Owen has said he believes the move to a banking hub is "clearly strategic", citing selling points such as Risca's transport links as a reason for choosing the town. 

He added: "To put a banking hub in Risca is logical in that it can support the wider area.

"This will bring with it additional footfall which will hopefully also benefit the local businesses."

Although the exact location and opening date of the hub are yet to be confirmed, residents have been told the bank will likely be present in areas such as the library in the interim, thus ensuring they are not left without a banking facility.