HSBC recently announced it was closing its branch in Bewdley on the basis that it was simply not economical to keep the branch open. But this closure is a big deal for Bewdley - it marks the closure of the last bank branch in town.
The town is understandably angry about this. Bewdley has a vibrant cash economy. Will the remaining two cashpoint machines in town be enough? Moreover, traders need to be able to bank their takings. The nearest branches will be in Stourport or Kidderminster.
Banks are required to undertake a comprehensive assessment of the impact their closure has on a town like Bewdley - this was brought in this year and in addition to publishing the business case for closure, they have to publish how they will mitigate the disruption caused to customers and what alternatives there will be.
Of the two remaining cashpoint machines in town, just one will be in the town centre. Banking deposits and other counter services will be made at the post office but people are worried this will not provide the same level of service.
This is a situation that I agree is not optimal. That is why I will be meeting with a number of people to see what can be done. I have already spoken at length with HSBC and they will not change their decision. So I will be meeting with the financial services director at the post office to see exactly what the offering will be in Bewdley - asking the important question: will customers get the same counter service, for the same price, from the post office. I will also be meeting with the chief executive of Tesco Money to see if there is a possibility of installing a second cashpoint machine, and of the possibility of them opening a banking counter, in their town centre store. Finally, I am in contact with Metro Bank - a London based challenger bank that is reversing the trend by opening new branches. My hope is that I can persuade them to open a branch in Bewdley.
The world is changing in many ways, and changing very quickly. The internet is a great (British) invention, but as people use it more, there are profound changes to our high streets. In fifty years' time, I am sure we will have adapted, but in the meantime it is important that we are not forced to adapt at a faster rate than people and towns can cope with.