Watchdog says it will help people in market town to access cash after backlash
A watchdog says it will look at ways to improve accessibility to cash in a town about to lose its last bank following a public backlash.
People in Hedon and the surrounding area faced the prospect of having to travel to Hull seven miles away in the New Year, as its last bank, Lloyds on St Augustine’s Gate, is due to shut for good on January 28.
The cash access watchdog LINK said that the town, which has a population of 8,000, and 39 shops, was “too small” for a banking hub.
LINK still doesn’t plan to open a hub, but on Tuesday said it agreed with “local concerns” voiced by Beverley and Holderness MP Graham Stuart, who raised a 2,000-signature petition.
LINK now recommend that the industry "provide more capacity, and look at ways to improve accessibility to cash services as well".
Cash Access UK - a not-for-profit company funded by major banks to help maintain access to cash and basic banking services and which manages shared services like banking hubs - will work with the Post Office to deliver on the recommendation.
Mr Stuart said he would be meeting Cash Access UK and continue to push the case for a banking hub.
The MP said: "The alternative they are suggesting is that further investment could go into the Post Office to make it more suitable or other methods could be found to maintain cash in the town.
"Whatever happens I want to make sure cash is available to deposit and get to keep the High Street in Hedon alive and thriving.”
LINK’s chief commercial officer Dr Chris Ashton said: “We’re grateful to the local community for pointing out their requirements following our original decision, and look forward to seeing better services for people to manage their cash in Hedon.”
According to Which? 517 banks and building societies in Yorkshire and Humberside have closed or are closing – with 210 still open.