Calls for banking hubs in Berkshire town after banks desert town

There are calls for banking hubs in Wokingham due to concern over the number of banks closing. Businesses and local leaders have written to leaders of nine major high street providers seeking support for a solution.

Councillor Clive Jones who’s behind these calls said: “Many people, particularly our older residents, rely on being able to get cash for their everyday needs and they miss the opportunity to do so in a bank or building society.

“There is also a concern among local businesses that a reduction in the number of banks is causing people to go elsewhere to do their shopping. There are also some transactions that need people to physically visit their bank – and that can mean quite a long journey for some of our residents now.

“I realise banks are commercial operations and that many of us don’t use them in the way we did in the past – and that is why a hub that brings together a number of high street providers is a great option. They have worked elsewhere and so my question to be banks is why not here.”

The town’s Natwest branch shut its doors earlier this year, while Barclays has confirmed it will close in August.

In a letter to HSBC, Lloyds, Barclays and other banks, Cllr Jones voiced concerns about significant travel if customers are forced to visit their nearest branch for discussions and signatures. He added that the option of visiting your local branch during lunchtime will be untenable if more and more banks leave the high street.

References

1. ^{^} Interactive map shows the Berkshire banks set to close in 2023 (www.getreading.co.uk)