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MP launches bid for ‘banking hub’ to help residents hit by branch closures

Local News by The Editor 1st Mar 2023  
Barclays bank in Twickenham. Credit: Maps.
Barclays bank in Twickenham. Credit: Maps.
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The Twickenham MP, Munira Wilson, has launched a campaign to win a shared 'banking hub' in the area after a number of banks decided to close their branches.

The centre of Twickenham has become a banking desert following the loss of NatWest and Barclays, while HSBC and Lloyds will also be putting up the shutters later this year.

Lloyds in Twickenham will also be closing this year. Credit: Maps.

The closure of branches means that free to use cash machines are also being removed from the centre of Twickenham, which leaves residents having to pay as much as £1.75 for access to their own money at charging ATMs.

The big banks claim the closures have been driven by the fact most customers have now switched to banking online, however critics say the loss of branches is a particular blow to the elderly, who like to deal with staff face to face, and small businesses.

Natwest in Twickenham also announced their departure from the high street. Credit: Maps.

The MP has held talks with the LINK organisation, which is involved in setting up shared banking hubs in communities left without branches.

The hubs allow customers from different banks to deposit and withdraw money. They also offer a counter service operated by the Post Office, where customers of all major banks and building societies can carry out regular cash transactions, Monday to Friday.

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Munira Wilson told Nub News: "The last year has seen a slew of bank closures across the constituency, turning our area into a banking desert. The loss of bricks-and-mortar branches has a particular impact on the elderly, the vulnerable and others who prefer in-person banking.

"With the announcement of each closure, I have met with officials of the relevant bank to raise the questions and concerns of Twickenham constituents.

"Unfortunately, there is little room to influence these closures, as they are a commercial decision made as a result of the dramatic decline in the number of customers using in-person banking. However, I've continued to raise the concerns of constituents impacted by these closures.

She added: "Some banks are exploring other ways to offer pop-up banking services within the community, including at community centres and libraries. Barclays, for example, is trialling a series of community banking hubs in order to provide more flexible options for in-person banking.

"I have also met with representatives from LINK, which provides communities with access to cash through services such as cashback at retailers' tills and Banking Hubs, to explore options in the constituency. They are currently evaluating my application to see if Twickenham fits the criteria for a new hub."

     

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