James Evans MS has met with representatives of LINK to discuss what provisions are being made to ensure residents of Presteigne have access to cash after Lloyds Bank announced the closure of their branch.
LINK are also responsible for assessing whether towns are eligible for Banking Hubs, where the banks would come together to operate a combined service.
James was reassured to hear that LINK have assessed the Presteigne area and formally recommended a replacement free-to-use ATM be installed in the town after the Lloyds bank closure – location yet to be confirmed.
James also expressed his concerns that many towns across Powys such as Builth Wells, and Hay-on-Wye, are without a bank. There was hope that these larger towns would be eligible for Banking Hubs but sadly they are not meeting the criteria due to their low population size amongst other factors. Whilst many can use the Post Office for banking, this is not sufficient for all due to limited-service options and opening times.
James Evans MS said:
“The recent announcement regarding the closure of Lloyds Bank in Presteigne is a bitter blow to all the residents there who rely on a physical branch to conduct their services.
“It is vital that access to cash is maintained in Presteigne following the closure, and I am pleased to have secured a free-to-use ATM for the town.
“The Banking Hub is a hope for many of our larger towns that no longer have any banks, and I welcome the move in September that will widen the catchment area and other criteria used. I will be requesting towns such as Builth Wells and Hay on Wye be reassessed under the new criteria with the hope that they can meet the new criteria for setting up of a Banking Hub.”
