Regulator steps in to back Pershore banking hub - The Evesham Observer

Regulator steps in to back Pershore banking hub

Evesham Editorial 19th Oct, 2023   0

A FINANCIAL REGULATOR has stepped in to guarantee the provision of banking services in Pershore following the news that Lloyds Bank plans to close its town centre branch.

And the news was welcomed by West Worcestershire MP Harriett Baldwin who asked the Financial Conduct Authority to ensure that Pershore people will still be able to access banking services during the period surrounding the bank’s closure.

Link– which runs the national cashpoint network and now has the responsibility to support communities which have been left without any high street bank – will find a site to locate a banking hub run by representatives from all major high street banks.

The FCA has replied to Mrs Baldwin to confirm that it is has contacted Lloyds Bank specifically about their Pershore plans to make sure the company follows the guidelines as it plans the closure, including taking into account local people’s views and ensuring that vulnerable customers are protected.

The regulator also confirmed that there is an expectation that the branch will stay open until the end of May next year to allow the new banking hub to be put in place.

Mrs Baldwin said: “I wrote to the Financial Conduct Authority because I was concerned that there was a risk that Pershore people would be left without any local banking capability when Lloyds closes its door to customers next year.




“I’m fully supportive of the concept of a banking hub but time is marching on, and I wanted to be clear that Lloyds won’t disappear until an alternative plan is in place.

“I’m planning a meeting with Wychavon District Council, shortly, to identify what we can do to support the banking hub delivery and will keep a close eye on this matter in the coming months.”


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