Efforts to secure banking hub for Biggleswade stepped up as Lloyds Bank set to close

Two motions were presented to a Biggleswade Town Council meeting. One called for a banking hub to be established in the town, and the other asked the local authority to write to Lloyds Bank to express its disappointment around the closure.

Bonds Lane Post Office postmaster Harjit Nandha said during the public session: “This closure announcement by Lloyds Bank puts Biggleswade in a position to apply for a banking hub.

“My wife and I have spoken to the Post Office banking hub organisation team and put this on its radar that by late November the only facility in Biggleswade will be Nationwide as a building society.

“That doesn’t affect a hub application because it’s a building society and not a bank.”

Their intention would be finding an empty premises in the High Street for the hub.

Town councillor Jonathan Woodhead proposed one of the motions, saying: “We should formally contact Lloyds Bank to lodge our displeasure or disappointment about the closure.

“The second issue linked to this is the reduction of ATMs in the town. Lloyds Bank has two, one of which is accessible out of hours and we’ll lose those.

“It gives us one financial institution. The remaining ATMs are all private ones. That reduction in cash is a particular issue.”

Town councillor Sarju Patel proposed the banking hub motion, acknowledging “Nationwide has promised to stay until 2028, but its 15-year lease runs out in December 2027.

“There might be circumstances outside its control which means closing a branch. We could see what the company’s thoughts are around this. We should support the local postmaster and postmistress in obtaining a banking hub.”

Deputy mayor Gary Barrett was supportive of both motions, suggesting: “Cash Access UK is the organisation we need to talk to about doing an assessment for a hub.”

Town councillor Duncan Strachan explained: “Lloyds promised to consult and it failed, and that’s really disappointing.

“It indicated there would be a community banker. I’m unsure about what that means and how it works.”

Town councillor Mark Knight voiced concerned about the access businesses will have to deposit money and get to change from the Post Office.

“Hopefully that would provide a similar service,” he added. “A banking hub isn’t a substitute for a full branch. It’s likely to have different sales people on different days representing different banks. This is necessary now, but it’s still a loss for the town.”

Town clerk Peter Tarrant warned: “We approached Cash Access UK several months ago and the response was we didn’t meet its criteria, particularly with the Sandy availability. Another such assessment clearly needs to happen.”

Councillors agreed unanimously to support the postmaster, write to Central Bedfordshire Council and surrounding local authorities, write to Lloyds Bank about the lack of ATMs, and work with Conservative North Bedfordshire MP Richard Fuller.