A new banking hub which will serve thousands of people has now opened.

Those living on the Isle of Sheppey have been without proper facilities after several high-street banks closed.

TSB, the latest to leave, confirmed its final day in Sheerness would be next Thursday (March 27).

The company had delayed closing the branch in September after new regulations from LINK – the UK’s cash access network – said it had to remain open until new services were in place.

HSBC, Barclays, Halifax and NatWest have already removed branches from the town.

The new hub has been provided by CashAccess, a not-for-profit company backed by 10 major high-street banks.

In December, it confirmed the temporary facility would open in spring, with a permanent base to follow.

Now 40,000 islanders will have access to a range of cash and basic banking services at the hub, which has been set up at The Hope Street Centre in Rose Street, Sheerness.

Permanent staff are on-site, Monday to Friday, from 9am to 5pm.

Cash or card? We asked Kent shoppers what they prefer to use and why – read the full report here.

Both Cllr Mike Whiting (Ind) and MP Kevin McKenna (Lab) had called for urgent action for improved financial services for the Island, noting that the area’s post offices were inadequate to meet demand.

“When TSB gave notice it was quitting, Sheppey was facing a situation where there would be no bank left on the Island,” explained Cllr Whiting, who represents Sheppey at Kent County Council.

“At first we were told we did not qualify for a banking hub, but I was delighted to get a letter confirming they had changed their minds.

“The Hope Street Centre is a temporary home while they seek a permanent location in Sheerness High Street, but it was important to get something in place quickly because TSB has said it will pull out on March 27, so the clock was ticking.”

He added: “This will be a great relief for so many who, for whatever reason, are unable to use online banking.

“For many, cash is still their preference, and having a local bank where they can do their banking in person will be of huge benefit.”

Each high street bank will have staff available on a rota system, taking it in turns during the week for face-to-face meetings.

It is as follows: NatWest on Monday, TSB on Tuesday, Barclays on Wednesday, HSBC on Thursday and Halifax on Friday.

There will also be permanent CashAccess staff to assist with day-to-day personal and business banking.

The banking hub opened on Monday, March 17.