New banking hub a 'relief' for businesses

Toby Ridgeway said the new charity banking hub will be a "relief"

Businesses have expressed relief that construction has started on a new banking hub after it was announced the town's only bank would be closing.

Lloyds bank in Wellington, Somerset, will permanently close at the end of March due to a lack of local customers.

But, across the road, a banking hub will now open in the unused council offices, led by charity Cash Access UK.

Toby Ridgeway, 20, who runs Odette's Tea Room, said: "It'll be saving money, saving time, and a lot of pressure I thought I was going to be under is all gone now."

It is hoped the hub will open before Lloyd's closes and will offer banking services to residents and local businesses.

The new hub is over the road from Lloyds bank

The new hub will be run from a counter service, allowing customers of major banks to carry out transactions.

It will also have a rota of staff from high street banks on hand to help.

Wellington town clerk Dave Farrow said the presence of banking services in the town was "essential".

"The reality is not everybody does online banking... and people like to come into a bank and speak to their bank staff directly," he told BBC Radio Somerset.

Mr Farrow added it will be a "lifeline" for vulnerable people in the town as well as the independent businesses that line Fore Street.

Ms Perry said that having no banking services near-by would have had a financial impact on her business

Fearne Perry, who runs the HT Perry and Son and Granddaughter hardware shop, said the location of the Lloyds branch was the reason she chose to bank with them.

She said that without a bank near-by, her elderly father would have travel with their takings elsewhere, every day or every week.

"[It] isn't an insignificant amount - it would have been horrible," she said.

Ms Perry added that had a new hub not been put in place it would have "definitely" had a financial impact on her business.

Lloyds said less people are using the branch in Wellington

Mr Ridgeway added: "With Lloyds being where it was, there had been some uncertainty around the days it was going to be open, who is going to be there... and that was before it even said it was going to be shut.

"And now we've got the banking hub and we know what days it's going to be open and how it's going to be run... I think it's just a lot more clear for everybody and make it all a lot easier."

When Lloyds announced the Wellington branch would be closing, a spokesperson said: "We're responding to the way our customers use our branches.

"We’ll continue to invest in our branch network, but we have to make sure our branches are where customers need and use them most.

"As a result, we've made the difficult decision to close this branch because customers are using it less often."