CHEPSTOW Banking Hub was officially opened, with a Minister cutting the ribbon to mark the opening of the the UK’s 250th banking hub.

The ribbon-cutting ceremony was led by Minister Lucy Rigby, who is the Chief Secretary to the Treasury.

Also in attendance was Monmouthshire MP Catherine Fookes, who welcomed the opening of another banking hub in the county.

Chepstow’s last remaining bank branch will close next month, which would see residents having to travel eight miles to Lydney for the nearest bank. This journey can take around 30 minutes by public transport and cost £4, creating a particular barrier for people who rely on nearby-in person services.

At the official opening Catherine Fookes MP said: “It’s fantastic to see the banking hub open in Chepstow. It’s so important that residents and businesses have access to cash.

“Many people don’t have digital banking, and we must ensure they can still have access to cash and access to face-to-face help. A big diolch to Lucy Rigby MP, who is Chief Secretary to the Treasury for coming to open the hub for us.”

The new banking hub is the 250th to be opened since a commitment was made by the UK government to deliver at least 350 hubs by the end of parliament.

Monmouthshire is very fortunate as there is also another banking hub in Monmouth.

The new banking hub means ability to deposit and withdraw cash, deposit cheques and access community bankers, a move that keeps a vital service on people’s doorsteps and supports business growth.

The hub also has an external free-to-use ATM to provide 24-hour access to cash for the community to use.

The opening of the banking hub marks an important investment into the town, bringing a new service to the area which Chepstow residents can use.