MELKSHAM businesses will soon find it easier to bank their day’s takings, with a new facility announced to provide this service.
However, it has been confirmed that despite the closure of Melksham’s last bank, Lloyds in February, the town does not qualify for a banking hub, which would allow personal customers of different banks to carry out transactions in one centre.
LINK, the UK’s Cash Access and ATM network, has confirmed that following a request from local MP, Michelle Donelan, the town will benefit from new banking deposit services as part of a wider commitment to protect access to cash.
But because Melksham has a Nationwide Building Society, LINK cannot provide a Bank Hub. LINK has not confirmed when the new banking deposit service will begin nor where it will be operated from; they are currently looking for a suitable site.
Last year, the banking industry agreed that following the closure of any bank branch, LINK will identify whether a community requires further cash services. Additionally, any community without a branch can contact LINK directly and ask to be assessed for support.
Following the closure of Lloyds Bank and a request from Michelle Donelan MP, LINK considered that there was a need for improved cash deposit facilities in the town. Despite more consumers opting to use card payments, many communities have a high use of for cash and being able to deposit cash locally is important for local businesses and consumers.
Melksham is one of the first locations that will benefit, thanks to the community request. In addition to new deposit services, new innovations such as Banking Hubs, providing shared banking facilities as well as Cash at the Till, which allows retailers to provide free access to cash to consumers are beginning to appear across the country.
Michelle Donelan MP said, “Since the closure of Lloyds Bank earlier this year, I have pushed for a Bank Hub for Melksham. I passionately believe that access to cash and banking services is crucial to the wellbeing of local residents and our local economy, and cannot be replaced with online services alone. Therefore, I will continue to campaign to protect the accessibility of our banking services.
“The rules state that because we have a Nationwide Building Society, we cannot have a Bank Hub. I have since written to the Chief Secretary to the Treasury to see if there can be any flexibility in these rules, and in the meantime retail customers can continue to use the Post Office. This announcement marks a big step forward in supporting Melksham’s high street, and I am really grateful to LINK for their help and support in my application through the community request.”
John Howells, CEO, LINK said, “We’re really pleased to support Melksham and we’re grateful for Michelle Donelan’s request. The ability to access and bank cash for people and businesses is vital for the health of high streets across the country.”
