MPs have called for urgent action as many people are missing banking services in their local area.
A total of 14 MPs have signed an early day motion saying there is an urgent need for more banking hubs to replace closing branches, highlighting the rural town of Ilminister in Somerset.
The town has no bank branches left and residents would have to take a 30-minute drive to Taunton to visit big name branches such as Barclays, Halifax, Santander, Lloyds, NatWest and HSBC.
The motion calls attention to “the importance of maintaining access to in-person banking and cash services” and says that rural constituencies in particular “urgently need more banking hubs”.
Banking hubs are Post Office-run centres where you can access over the counter services for many major banks.
There are more than 75 in operation with plans to increase the total to 162. The Financial Conduct Authority recently brought in new rules obliging the banks to maintain cash services where a branch is closing.
The early day motion has been signed by MPs from a range of parties including Labour MPs Brian Leishman and Tristan Osborne, and former Labour leader Jeremy Corbyn, who now sits as an independent.
This is the full list of MPs backing the cause:
- Adam Dance
- Ellie Chowns
- Steff Aquarone
- Chris Coghlan
- Caroline Voaden
- Edward Morello
- Wendy Chamberlain
- Brian Leishman
- Jamie Stone
- David Chadwick
- Tristan Osborne
- Jeremy Corbyn
- Liz Jarvis
- Andrew George
- Claire Young
- Sarah Gibson
LINK previously reassessed 182 branch closures to see how the local community would be impacted, and decided to mandate the launch of 15 new banking hubs as a result.
These will be launched in these locations:
- Sidcup (London)
- Normanton (West Yorkshire)
- Hailsham (East Sussex)
- Frome (Somerset)
- Sheerness (Kent)
- Whitley Bay (Tyne and Wear)
- Rugeley (Staffordshire)
- Newquay (Cornwall)
- Market Harborough (Leicestershire)
- Thetford (Norfolk)
- Monmouth (Wales)
- Morecambe (Lancashire)
