Town gutted as campaign for banking hub fails

Despite a long campaign, the town has been told it does not qualify for a banking hub because Melksham still has two building society branches.

They are a branch of the Swindon-based Nationwide Building Society in Church Street and a Coventry Building Society branch in the High Street.

But the good news is that the UK’s cash access and ATM network provider LINK says it is looking for a suitable site in the town to provide a cash deposit service.

Local MP Michelle Donelan said: “This is a big win and will be a boost to our high street.

“In the meantime, retail customers can continue to pay in cash and cheques, withdraw money, and check their balance at the Post Office.

“Since the closure of Lloyds Bank earlier this year, I have pushed for a bank hub for Melksham.

“I passionately believe that access to cash and banking services is crucial to the well-being of local residents and our local economy and cannot be replaced with online services alone. Therefore, I will continue to campaign to protect the accessibility of our banking services.

“The rules state that because we have a Nationwide Building Society, we cannot have a bank hub. I have since written to the Chief Secretary to the Treasury to see if there can be any flexibility in these rules.

“This announcement marks a big step forward in supporting Melksham’s high street, and I am really grateful to LINK for their help and support in my application through the community request.”

Melksham has been denied a banking hub because it has a branch of the Nationwide Building Society in the town. Photo: Trevor Porter 69393-1 (Image: Trevor Porter)

LINK chief executive officer John Howells said: “We’re really pleased to support Melksham and we’re grateful for Michelle Donelan’s request.

“The ability to access and bank cash for people and businesses is vital for the health of high streets across the country.”

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The call for a banking hub followed the closure of Melksham’s last remaining ‘big four’ High Street banks on February 15 when Lloyds Bank pulled out.

A banking hub is a shared space managed by the Post Office where retail banks hold appointments on specific days.

It would allow personal and business customers of the UK’s banks to carry out cash and cheque transactions in one centre.

There were only seven banking hubs open across the UK by July but a further 61 were planned to open in local communities, including Royal Wootton Bassett.

Although LINK has confirmed it is looking for a suitable location in Melksham for a new banking deposit service it has not said when this will take place.

Many High Street bank branches are being closed across the country, including Wiltshire, as people switch to online banking services.

In the past 12 months, the ‘Big Four’ banks, Barclays, HSBC, Lloyds and NatWest, have all closed branches across the UK, leaving customers having to travel further to deposit cash.

Critics have complained this leaves elderly and vulnerable people who do not use online services without local facilities they can use.

In response, the banking industry has agreed to protect public access to cash as part of a wider commitment to local communities.

Despite more consumers opting to use debit and credit card payments, campaigners say that local communities, and particularly small businesses, still need access to deposit cash locally.

In addition to new deposit services, new innovations are taking place across the country to replace the lost branches.

They include banking hubs, providing shared banking facilities, as well as cash at the till, which allows retailers to provide shoppers with free access to cash.