Bank latest

Here’s more background on why a banking hub will not be coming to Shipston, even after a long series of communications with LINK, the UK banking network.

A banking hub is a place where personal and business banking transactions can be carried out face-to-face with a community banker. It is a shared space where multiple banks collaborate to provide in-person services.  Staff from different banks rotate throughout the week. In other words, a place you can do your regular banking, no matter what bank you are with. It is held up as an alternative for communities whose banks have closed, as is increasingly the case. One in three bank branches have closed in the past five years.

Cllr John Williams has lobbied for months to retain banking services for the town’s businesses and bank account holders, by pointing out that LINK had made errors in its assessment of the banking alternatives available to people in Shipston, as well as the way it did the town’s rural categorisation, and the number of retailers within a three-mile radius.

After rejecting these arguments, LINK’s independent assessor, Joanna Wallace, wrote: ‘Shipston does not qualify for any additional facilities as whilst it does have an older and less digitally connected population, the town has a free to use ATM with capacity to pick up Lloyds’ ATM transactions and a Post Office with capacity to pick up the counter transactions.’

She acknowledged that the Post Office is not fully accessible and recommended that LINK engage with the Post Office to ensure that it is.

‘This is very disappointing,’ says John Williams. ‘Shipston’s businesses, retailers and charities are left with the option of using an ATM and the Post Office. We were told that is OK as it is possible to get to Moreton, our nearest branch of Lloyds, by bus in under 30 minutes, although we know a round trip can take up to three hours due to bus times. We are just being left high and dry.’