The hub, at 63 High Street, was opened officially on Wednesday by Angus South MSP Graeme Dey and will operate five days a week.
A different bank or building society will be represented on each day offering counter services operated by the Post Office. Customers of all major banks and building societies can carry out regular cash transactions, Monday to Friday.
It will also offer a Community Banker service where customers can talk to their own banking provider about more complicated issues.
The hub will be open Monday to Friday between 9am-5pm and the Community Bankers will work on rotation as follows: Monday - Royal Bank of Scotland; Tuesday - Virgin Money; Wednesday - Bank of Scotland; Thursday - TSB; Friday - Santander.
Banking Hubs are being created across the UK and are funded and supported by 10 major high street banking providers: Bank of Ireland UK, Barclays Bank UK PLC, Danske Bank, HSBC UK Bank plc, Lloyds Banking Group, Nationwide Building Society, NatWest Group plc, Santander UK plc, TSB Bank plc and Virgin Money. This is the third to open in Scotland.
Carnoustie was chosen after LINK, the UK’s cash access and cash machine network, identified the need for enhanced cash deposit services following bank branch closures in the town.
Gareth Oakley, CEO of Cash Access UK, which protects nationwide access to cash, said: “Having access to cash services is important for millions of people around the UK, therefore we are delighted to announce the opening of the Banking Hub in Carnoustie.
"A new law has been passed in the UK Parliament to protect Access to Cash so today’s news is perfect timing. We look forward to supporting local people and businesses with cash services.”
He said: “The hub is a welcome addition to the community, especially for those who rely on cash and face-to-face banking. I look forward to seeing it making a positive impact on the local community.”