Last week, I visited Marlborough to discuss the forthcoming closure of Lloyd’s bank in November. As I understand it, Lloyd’s has made this decision, citing a 50 % decrease in footfall of personal customers using this branch over the last five years. As an alternative service to support its customers, the company suggests the provision of a Community Banker, one day a week, to be based most probably in the Library – though services will likely be limited and cash withdrawals not available.
While many people are choosing to deal digitally, banks remain an essential pillar of the High Street and wider community and there are many who still prefer to use cash and face to face services. My concern is that, with the closure of the Marlborough branch of Lloyd’s, the town loses its last bank and it is not only the High Street traders that suffer, but also many of the elderly who do not necessarily own smartphones, those with disabilities that may prevent them from using online apps and the socially isolated.
I am fully in support of Marlborough Town Council’s work in trying to set up a Community Banking Hub – this involves approaching LINK to undertake a community cash access review and meeting representatives from the Cash Access group. LINK has so far recommended 121 banking hubs across the country including three in Wiltshire, namely Royal Wootton Bassett, Calne and, one coming soon in Westbury.
Last month, when I spoke at the Marlborough Business Networking event, many of those present voiced their concerns about the Lloyd’s closure. In the coming weeks, I intend to reconvene with those businesses that deal specifically in cash and I will then take their concerns to Government.
