MP Anne-Marie Morris criticises delays in opening of banking hubs

A Devon MP has criticised delays in setting up banking hubs in areas where bank branches have closed. The last bank in Teignmouth and Dawlish is to close in April, and a banking hub is still to be developed.

Anne-Marie Morris, Conservative MP for Newton Abbot, said the gap needed to be closed so older and vulnerable people could continue face-to-face banking. Cash Access UK, which owns the banking hubs, said it was a challenge to secure the right premises.

According to Citizens Advice UK, about 6,000 high street bank branches have closed since 2015, but only 31 banking hubs have been set up. The opening of new hubs can take months as a suitable premise needs to be found and often changes are needed to ensure it is fully accessible and secure enough for banking services.

Ms Morris said a new set of criteria should be agreed the development of banking hubs.

"There are lots and lots of barriers," she said. "You need to fight for a hub and even if it's approved, it's down to cash access to find a property, but constraints to size and location mean it can be very difficult to find the right place."

The Citizen's Advice Bureau reports that almost 6,000 high street bank branches have closed since 2015 while only 31 banking hubs have been created, the House of Lords says.

Perran Moon, the Labour candidate for Camborne and Redruth, said it was an "absolute travesty" nearly 1,000 bank branches had closed across the South West and he called the region a "banking desert".

He said: "It's the most vulnerable, it's pensioners and, critically in the South West, it's the small businesses that are so reliant on these high street banks."

Cat Farrow, the chief operating officer of Cash Access UK, said it was hoping to open more hubs as soon as possible. "Cash Access UK is looking to provide services that will be there for years to come, are centrally located and fully accessible to customers and staff," she said.