Bank Closures and Banking Hubs

Sarah Green Excerpts

Thursday 5th June 2025 Commons Chamber

[Sarah Green (Chesham and Amersham) (LD)]

In the last five years, 11 bank branches have closed in my constituency, leaving most towns without traditional banking facilities. For example, two years ago the closure of Barclays in Chalfont St Peter triggered the assessment for a formal banking hub. While I recognise that alternative provision is now delivered by the post office or in small pop-up locations on an appointment-only basis, those alternatives do not go far enough. They are unable to meet all needs, forcing people to travel further afield to find basic banking services and advice on mortgages and debt—and, as the Minister will be all too aware, asking people to rely on a bus network that is increasingly cutting services.

Link found that Chalfont St Peter did not meet the criteria for a banking hub, yet one in five people there is over the age of 65, and Age UK found that 40% of over-65s with a bank account do not manage their money online. Some of my constituents in more rural areas also face broadband connectivity issues, restricting their access to online banking. My plea to the Minister echoes the calls already stated to review the criteria by which towns are assessed for banking hubs. Accessibility gaps must be considered, including access to broadband, and whether residents have adequate access to not only cash—the current criterion—but in-person banking services.