TENBURY Wells will not be receiving a full-time banking hub despite the looming closure of the town’s last remaining bank branch.
LINK, the organisation responsible for determining eligibility and rolling-out banking hubs across the UK, has determined that Tenbury Wells’ access to cash is sufficient enough without a hub.
The news comes as MP Dame Harriett Baldwin continues to call for a hub the town in anticipation of Tenbury Wells’ last remaining bank branch, TSB, closing on May 20, 2025.
While the MP has secured a commitment for a weekly pop-up banking service in the town, she is continuing to push for a full-time permanent banking hub to secure services for residents.
The MP has passed concerns on to the Financial Conduct Authority and formally appealed the decision to not consider a banking hub.
Dame Harriett said: “The closure of the last bank will cause major inconvenience to many local people and local businesses and put extra strain on the already busy post office.
“I’ve had some really constructive conversations with the Post Office and Spar staff about how they can help customers more and I am told that they have already seen an increase in counter service usage after the bank closure announcement.
“LINK has decided that the town has access to plenty of cash point machines but it has badly mis-underestimated the impact the closure will have on businesses wanting to dispose of cash.
“I have written to appeal the decision and called on the Financial Conduct Authority to scrutinise the review.
“So many people in Tenbury will be affected by this closure and I am greatly worried about the impact this will have on the town’s business confidence.”
In a response to Harriett Baldwin MP’s plea, a spokesperson for LINK said the organisation had determined that ‘for a place of Tenbury Wells’ size, cash access, through the local Post Office and ATM network, was sufficient according to the regulated rules we apply.’
As a result, the town’s Post Office will likely become the only resource for businesses and residents needing financial services beyond simple balance checks and withdrawals offered at ATMs.
