Fay is disappointed that once again we are faced with another Bank closing in Brecon and Radnorshire. Fay led a debate in Westminster to discuss rural banking services last year and highlighted the importance of rural community’s access to cash. It is a legal requirement for retail banks to provide deposit and withdrawal facilities for customers within certain distances however this does not help those living in rural areas.
Brecon currently has five banks. Hay-on-Wye has none. Crickhowell has none. Rhayader has none. Knighton has none. The closure of the first bank was unnerving and is a pattern that Fay is keen to not to see repeating.
Proposed banking hubs can take months to set up leaving customers and businesses stranded with no facilities. More must be done to protect rural areas from facing a cashless future. Fay will be writing to HSBC to ensure they have a plan in place.