Calls for Tenby to be included in banking hub rollout

The planned closure of the HSBC bank will leave the popular coastal town without a single high-street bank branch – and follows the previous closure of Lloyds, NatWest, Santander and Barclays bank over recent years.

HSBC says its customer numbers have fallen rapidly since the pandemic and that some of the branches that are being shut now serve less than 250 customers a week. 

A banking hub is a shared service that operates in a similar way to a standard branch, with a counter service run by Post Office staff where customers of almost any bank can withdraw and deposit cash, make bill payments and carry out regular transactions.  

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• No bank, one cashpoint and 65,000 people - how will Tenby cope?

The most recent bank branch closures in Pembrokeshire reflects a growing trend seen across Wales.

Data from the ONS showed that between 2012 and 2021, Wales saw a 36 per cent drop in the number of bank and building society branches – with rural communities bearing the brunt of these closures. 

A further blow was dealt to the town this week, with the news Barclays would be removing its ATM in the town. 

Cefin Campbell, Member of the Senedd for Mid & West Wales said: “It's frankly ludicrous that a town the size of Tenby, which experiences such an immense influx of visitors during the tourist season, will be left high and dry without a single high street bank. 

Whilst the Post Office can deliver some banking facilities, the establishment of a banking hub - as currently exists in Welshpool and other locations across the UK - would prove to be an useful solution in providing banking services to residents and visitors.  

There’s no denying that whilst our banking habits are changing, it remains the case that access to cash remains vital for many – particularly the elderly and small businesses – and the establishment of a banking hub could provide a useful stimulus for the high street, and a boost to many residents.”