LINK, the UK's cash access and ATM network, has today (September 18) announced that Frome will receive a banking hub. 

A location for the hub has yet to be found, with LINK starting the search today.

It is expected to open in 12 months.

Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone.

The hub, when open, 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.

In addition, 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.

Anna Sabine, MP for Frome and East Somerset: "I am delighted to hear that LINK has reassessed the need for a banking hub in Frome.

"Access to banks is a crucial element to any thriving community and following the announcement of the closures of all banks in the town, I shared in concerns of local residents and businesses that we needed to ensure adequate provisions were made.

"I welcome the news announced today that Frome will maintain this access and that Link can continue to provide this important role in the local economy."

The banks will be working on a rotating basis, so there will be staff from different banks available on different days.  

To date, LINK has recommended 163 banking hubs. There are currently 81 banking hubs up and running in the UK. 

Adrian Roberts, Deputy CEO, LINK: "We're pleased to recommend this new hub in Frome.

"Access to cash remains vital for millions of people across the country and the new rules that come into force today mean that people will be able to access cash on the high street for many years to come."