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Damian Hinds
MP for East Hampshire

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Damian Hinds
MP for East Hampshire
at nationwide petersfield
at nationwide petersfield
Access to banking

Banking in East Hampshire

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image of old natwest building
banking hub image May 2024

It is a sad fact that the number of high street bank branches in local communities is diminishing. In East Hampshire, some have closed in recent years, including HSBC in Alton, whereas others have reduced their hours.   From the banks' point of view, these closures are necessary as there just aren't the numbers using them anymore to make the branches commercially viable. 

Many of us now bank online or via our telephones and do so confidently.  We therefore have little need to visit a physical bank branch.  However, for those who choose not to use online or telephone banking or don't have the means to do so,  branches remain an important way of managing household tasks, such as paying bills, or seeking advice on financial matters, such as probate and mortgages. 

While I do not have the power to stop banks from closing their branches, I think it's essential that we campaign for decent alternative provision for those customers that need it.  This could be maintaining the network of post office 'everyday banking' counters as a minimum and looking to extend the services they can provide to customers to try and fill the gaps left by branch closures. 

We also need to look at the community banking hub scheme Cash Access UK - Home - this is a community service, run by Link on behalf of the banks, to determine areas that could benefit from a banking 'hub'.  This is particularly relevant to those communities which no longer have a physical banking presence and may have to travel some distance to access a branch.   

In 2024 I successfully campaigned for better banking facilities for Whitehill and Bordon. This was the culmination of many months of hard work with Link, supported by EHDC, so it was a real result to get the town the banking provision it needs.   I'm now looking at other parts of East Hampshire to see if there are communities that would benefit from a banking hub.  Do please email me if you think your community needs a banking hub. 

 

 

Financial Conduct Authority - consultation on Access to Cash (Dec 23 - Feb 24)

The FCA last year consulted on improving access to cash in villages, towns and cities.   The consultation proposes a "new regulatory regime, which would require banks and building societies to assess and fill gaps, or potential gaps, in cash access provision that significantly impact consumers and businesses. "   This could mean that banks would need to do a full assessment of the impacts of a bank branch closure on a local community before closing its doors for good.  It's also looking at the criteria for deciding which locations are suitable for banking hubs and how the assessments should be carried out.  I have responded to this consultation and my response can be found below. 

 

 

 

 

Attachments

Attachment Size
Response to FCA consultation on access to cash (434.64 KB) 434.64 KB
Response to FCA consultation on access to cash (367.5 KB) 367.5 KB

News

Link logo for W&B banking hub

Whitehill and Bordon to get a banking hub

Wednesday, 8 May, 2024
The following press release has been issued today by Link: 
LINK: Hampshire to get its first banking hub following request from local MP
dentist

£200 million brings a smile to the nation's teeth

Thursday, 15 February, 2024
Last week my column was all about pharmacists and this week it’s all about dentists.   I’m sure many of you were heartened by the news that the government has launched a new initiative to improve access to NHS dentists.
lloyds bank logo

Why Bordon needs a banking hub

Thursday, 7 December, 2023
My column for this week's Herald and Post... In September I wrote in this column about the decline of cash and the dangers of financial exclusion for some of the more vulnerable people in our communities.  Following news of more bank branch closures across the country, I’m back to that subject
image of coins from pixabay

Protecting access to our cash

Monday, 4 September, 2023
Last week's article for the Herald and Post...   Now and again I receive a letter from a constituent concerned that they have been unable to make a payment to a local business using cash.   Sometimes this has turned out to have been a misunderstanding and a cash option is avail
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Damian Hinds MP for East Hampshire

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