Access to Banking Hubs: Hertfordshire

The hon. Member highlighted the importance of access to cash services, especially for older people, small businesses, and those with disabilities. She also called on the government to ensure that a national financial inclusion strategy includes measures to ensure the Financial Conduct Authority and Prudential Regulation Authority have regard to financial inclusion. Acknowledged Derek French's campaign for access to cash and banking, corrected the Minister about her constituency.

Discussed digital inclusion and exclusion, thanked other MPs for their contributions, addressed concerns about banking hubs in different constituencies.

I commend the hon. Member for South West Hertfordshire for securing this debate on access to banking hubs, which is a critical issue in many rural constituencies across the UK. Asked questions on digital inclusion and exclusion.

The impact of bank closures falls not just on those within the tightly drawn parameters but also on more rural towns and villages, meaning businesses have to travel far for banking services. Adding flexibility would be incredibly valuable.

Mr John Lamont shares similar challenges in his constituency and supports the campaign for more banking hubs. He also presents concerns about Link's criteria for determining community suitability for new banking hubs. The criteria for allowing banking hubs need to change as they are no longer fit for purpose, making it difficult for communities desperately needing these hubs to have them. Some communities lack broadband capability which makes using banking apps impossible. Even in my constituency of Mid Dunbartonshire, there are dark spots where people cannot access wi-fi.

Cheshunt in my constituency does not have a single bank branch, affecting individuals and businesses. Many older and visually impaired residents rely on in-person banking services due to the lack of digital access.

Supports the introduction of banking hubs as a solution to meet wider banking needs, especially where high street banks have closed. Highlights the importance of involving MPs in decisions regarding hub locations.

Mr Matt Rodda mentions the difficulties faced by vulnerable individuals and small businesses dealing with cash, reinforcing Mr Mohindra's argument for in-person banking services. The hon. Gentleman noted that the criteria for determining an area's eligibility for a banking hub appear too tightly drawn and there is perhaps a lack of appreciation of the scale of need in some areas.

Asked the Minister to give a letter of support for establishing a banking hub in Abbots Langley and clarified that there is an enhanced banking hub in Rickmansworth. Thanked the Economic Secretary for the response and expressed hope for more banking hubs, noting that a target of 350 was once ambitious but should be reconsidered.

We have been successful in securing a banking hub in Ilkley after a long campaign, but there is still a need for an ATM when the hub is closed. Cash Access UK and Link have determined that we should not need an out-of-hours facility.

Sir John Hayes supports Mr Mohindra's initiative, highlighting the issue of bank closures in his constituency. He calls for more banking hubs to address the needs of those least able to use online banking. The hon. Lady is correct about the number of bank closures and the impact on communities. The Payment Choice Alliance estimates that if every community with a population of 5,000 or more were provided with a banking hub, there would be about 1,200 of them.

My constituency is 700 square miles with a lack of connectivity for many residents. We recently lost Lloyds banks in Bridgnorth and Ludlow, causing major upset among local communities who require face-to-face services and access to cash.

Secured the debate to discuss access to cash services and highlighted the importance of ensuring adequate banking facilities across the UK. The closure of branches and their replacement with only 350 hubs represents nothing more than big banks trying to increase profits at the expense of customers. This is a serious accessibility issue for disabled, elderly, and those without technical know-how.