Amble to receive new banking hub after TSB closure announced

LINK, the UK’s cash access and ATM network, has made the recommendation after TSB announced the Queen Street branch will close in May 2025.

But Cllr Terry Clark, Amble ward, said: "In Amble, the last bank stands, serving not only as a financial institution but also as an employer to the community. Fortunately, despite the circumstances, we retain a Post Office capable of handling basic transactions like deposits and withdrawals.

"The loss of the bank signifies more than just the closure of a financial establishment; it marks the loss of one of the last externally accessible ATMs for residents. This raises concerns about the ability to spend cash in local shops and businesses. While card payments are widely accepted, the preference for cash persists, partly to avoid increasing bank fees.

"Various community and hub solutions have been explored throughout Northumberland and the UK. Yet, the personal touch of face-to-face interaction remains irreplaceable, especially for significant life events like purchasing a home.

"Time progresses, and banking habits evolve, leading some to question the relevance of physical banks.

"However, it's crucial to continue accommodating and supporting those who rely on these services, ensuring they are not left behind in the name of progress. The complete disappearance of cash is a growing concern."

The banking hub will be delivered by Cash Access UK. Over the next few weeks, it will begin to engage with the local community and will start to look for potential sites.

Nick Quin, head of financial inclusion, LINK: “Banking hubs are making a significant impact on local high streets, so we are pleased to recommend this new banking hub for the community in Amble.

"Many people are still reliant on cash, so it is essential that we protect access to cash and basic banking for towns across the UK.”

Banking hubs are a shared banking space, similar to a traditional bank branch, but available to everyone.

The hub will consist of a counter service operated by Post Office employees, where customers of any bank can withdraw and deposit cash, make bill payments and carry out regular banking transactions.

There will be private spaces where customers can speak to community bankers from their own bank for more complicated matters that require specialist knowledge or privacy. The banks will be working on a rotating basis, so there will be staff from different banks available on different days.

To date, LINK has recommended 130 banking hubs, including one to be opened in Alnwick where its Lloyds and Halifax branches are due to close in January.

Berwick MP Anne-Marie Trevelyan said: “I’m pleased to see a banking hub announced for Amble, following the disappointing news that TSB have taken a decision to close their Amble branch next year.”

TSB has seen a 55% fall in the number of customer transactions in their Amble branch over the last four years.

Its branch review found that 25% of personal customers at the branch do not use any other branch or channel, but that only six personal customers and three business customers use the branch on a regular basis.

Unite has called on TSB to urgently reconsider its ‘damaging’ bank branch closures plan.

TSB has been approached for comment.