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Customers of Barclays, Santander, Lloyds and Halifax issued ‘urgent warning’ | Personal Finance | Finance
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Customers of Barclays, Santander, Lloyds and Halifax issued ‘urgent warning’ | Personal Finance | Finance

MPs called for urgent action as many people do not have banking services in their area.

A total of 14 MPs signed a preliminary motion saying there was an urgent need for more banking centers to replace closed branches, with a focus on the rural town of Ilminister in Somerset.

The town no longer has any bank branches and residents should take the 30-minute drive to Taunton to visit high-profile branches such as Barclays, Halifax, Santander, Lloyds, NatWest and HSBC.

The motion draws attention to “the importance of maintaining access to in-person and cash banking” and says rural constituencies in particular “urgently need more banking centers”.

Banking centers are postal-operated centers where you can access over-the-counter services from many major banks.

There are more than 75 in operation and there are plans to increase this total to 162. The Financial Conduct Authority recently introduced new rules requiring banks to maintain cash payment services when a branch closes.

The initial motion was signed by MPs from a range of parties, including Labor MPs Brian Leishman and Tristan Osborne, as well as former Labor leader Jeremy Corbyn, who now sits as an independent.

Here is the full list of MPs supporting the cause:

  • Adam Dance
  • Ellie Chowns
  • Steff Aquarone
  • Chris Coghlan
  • Caroline Voaden
  • Edward Morello
  • Wendy Chamberlain
  • Brian Leishman
  • Jamie Pierre
  • David Chadwick
  • Tristan Osborne
  • Jeremy Corbyn
  • Liz Jarvis
  • André Georges
  • Claire Young
  • Sarah Gibson

LINK had previously reassessed 182 branch closures to determine the impact on the local community and decided to mandate the launch of 15 new banking centers as a result.

These will be launched in these locations:

  • Sidcup (London)
  • Normanton (West Yorkshire)
  • Hailsham (East Sussex)
  • Frome (Somerset)
  • Purity (Kent)
  • Whitley Bay (Tyne and Wear)
  • Rugeley (Staffordshire)
  • Newquay (Cornwall)
  • Market Harborough (Leicestershire)
  • Thetford (Norfolk)
  • Monmouth (Wales)
  • Morecambe (Lancashire)