New banking services for Tenby and the surrounding area could be on the horizon.

With the town set to lose its last High Street bank in June, proposals have come forward for a new banking offer for Tenby from ‘a major player’ that would include opportunities for businesses to deposit and access cash and would also provide a new banking service for residents.

The area has also been chosen by LINK to be one of only three in the UK for a pilot study into ‘area-based banking services’.

Pembrokeshire County Council’s Tenby South member, Cllr Sam Skyrme-Blackhall, has been in discussions since the end of last year, when the final High Street bank in Tenby, HSBC, announced its 2023 closure. 

And if the two schemes come to fruition, they would be a ‘massive boost’ for Tenby, she said.

Cllr Skyrme-Blackhall said: “I am delighted that a major player in the industry is working with us to find a solution that meets the needs of Tenby. There is more work to be done but I am really encouraged by progress.

“There will be further announcements in due course but this could be a major coup for Tenby.”

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Cllr Skyrme-Blackhall, who is also mayor of Tenby, initially approached LINK – the UK’s largest cash machine network – to seek support for a community banking hub for the town.

When told this was not immediately on offer, she pushed the point that Tenby has seasonal pressure points.

“We also emphasised the needs for services for our businesses and I am delighted that this was recognised,” she said.

“LINK have also said that they would include Tenby and the surrounding areas in a pilot study to look at an area-based approach to banking services. Tenby and the surrounding areas will be one of only three areas in the country focusing on in this initial work.”

A small working group - including representatives of Tenby Town Council, Tenby Post Office, local businesses and local residents -will continue to meet to take forward proposals.

Cllr. Skyrme-Blackhall emphasised: “In addition to the new proposal, we will continue to work with our fabulous Post Office to help promote the excellent services that they offer to both the community and to businesses”.

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