It has been revealed that Marlborough does not qualify for a banking hub as the controversial closure of its last High Street bank looms.

Lloyds Bank will close the doors of its Marlborough High Street branch for the final time on Monday, November 25 after announcing a cull of 176 sites across the UK in March.

The decision will leave Marlborough High Street without a dedicated bank, following the departure of HSBC in 2017 and Barclays in 2021.

Building society Nationwide will continue to operate following a refurbishment this summer.

 The current advice given to the town council and MP is that the town will not be getting a banking hub.

Banking hubs owned by Cash Access UK (CAUK) are venues where a variety of banks without branches in the town could give in-person advice and services to their customers.

LINK is the organisation that arranges banking hubs for towns and has decided Marlborough does not qualify for one due to having a Nationwide branch and post office continuing to offer banking services in the town.

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Marlborough council’s town clerk Richard Spencer Williams met with Danny Kruger MP, the Post Office and CAUK on Friday, September 27, where the town’s post office said it is “confident it can handle the extra custom”.

The town clerk said: “I think the assumption was we needed a banking hub, but having entered into dialogue with the post office and Lloyds and CAUK, we're more educated about what the counter offer is.

“I think that if people wait to test out locally and get feedback after a few months, they can see if they need to pursue the banking hub request.”

The post office is expecting around 14 per cent of Lloyds customers to use their banking services following the branch closure.

It says it is well placed to support Lloyd’s customers having managed similar transitions in the past. It will have staff in Lloyd’s at the end of October to help customers transition to using the post office.

The “fundamental difference” of a banking hub would be the opportunity to speak to and get support from a representative of your bank in person - not possible at a post office. 

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The town clerk added: “There is real concern within the Town Council that centralisation and digitalisation of services does leave a sector of the community in a difficult position.”

The banking hub in Royal Wootton BassettThe banking hub in Royal Wootton Bassett (Image: Cash Access UK)

Marlborough town mayor Kym-Marie Cleasby thinks Nationwide and the post office will not meet everyone’s banking needs, and supports a banking hub.

She said: “There are two reasons. The Nationwide is fantastic, but to only have one choice is not enough. 

“And the post office can get very overwhelmed at the moment, there are long queues, so we're not sure that it can deal with the extra stress.”

Cllr Cleasby and other councillors argue that a “personal face-to-face relationship with local bank staff” is essential for customers who are not competent with online banking to get banking advice.

They believe bank staff can protect people from scams in a way post office staff cannot, as they can identify unusual behaviour.

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She added: “When people's choices are limited, people don't have the bandwidth to be able to look out for those most vulnerable in our society. 

“We're concerned about choice. We're concerned about protection for those that need it.”

She is also concerned that the post office has said its service offer will be reviewed after 12 months.

She said: “I will certainly be emailing the post office to ask them what that exactly means because to me that's a get-out clause. I don't know how that reads to you but that's how it reads to me."

The post office and CAUK have advised that a challenge could be raised for their decision to be reassessed.

Banking hubs are owned by Cash Access UK which is owned and funded by ten of the UK's biggest banks which have come together to share services.

Access to Cash reviews that can result in a banking hub are done by ATM company LINK.

A LINK spokesperson said: “As part of our process, LINK has assessed the cash access needs in Marlborough.

"We have recommended improved services for businesses to deposit cash in Marlborough, which Cash Access UK are now working to deliver.

"Given the services provided by the branch of Nationwide and the local Post Office, Marlborough does not qualify for a banking hub.

"LINK will, however, keep the area under review and assess the impact should any other services locally change.” 

A Post Office spokesperson said: “Marlborough Post Office has the capacity to deal with extra banking customers.

"We have met the MP and Town Council Clerk to offer reassurance that customers can use the existing Post Office branch for their everyday banking needs.

“An event is planned for Tuesday 12 November at the closing Lloyds branch to chat to residents and customers to raise awareness that they can deposit cash and cheques, make free cash withdrawals and check their deposits at Marlborough Post Office, which many people will already be used to visiting.

"It is also somewhere to pay bills, collect foreign currency and top up a travel money card.”

The post office’s banking services would operate at the same times as its regular opening hours.