In Yorkshire, the decline of high street banks has accelerated over the past decade, with over half of local branches closing, according to the Office for National Statistics (ONS). This trend has left many areas, such as Stocksbridge, classified as “banking deserts,” where residents have to travel significant distances for in-person services. In Stocksbridge, all five banks had closed by 2017, forcing locals to travel 10 miles to Sheffield for banking needs.
The closures have particularly affected older individuals, as noted by Éilis Kinsella from Age UK Sheffield. She emphasizes that many seniors are now facing lengthy bus trips to reach the nearest branch, which pose challenges due to the unreliability of public transport. Older residents, especially those experiencing memory issues, find in-person banking crucial for managing their finances effectively.
Individuals with disabilities, including those who are visually or hearing impaired, also struggle with the shift to online banking, highlighting that in-person services are essential for all users. To address these closures, banking hubs are being introduced throughout Yorkshire. These hubs, funded by major banks and operated by local Post Office managers, allow customers of different banks to access important services like cash deposits and withdrawals.
Currently, there are 188 such hubs open across the UK, including 25 in Yorkshire, with a recent hub opening in Wetherby. While many users appreciate these new facilities, concerns have been raised about their limited hours and the presence of bank representatives only on certain days, which may not accommodate everyone’s schedules. As small towns adapt to these changes, access to traditional banking remains a key concern for many residents.
Source: https://www.bbc.com/news/articles/cpd2ev0lp41o?at_medium=RSS&at_campaign=rss