Banking Hub Proposal Made for Northolt

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Closure of local branches has deprived area of services

The former Barclays premises in South Harrow is a potential location

November 2, 2023

A campaign supported by the local MP has been started to get a Banking Hub set up in the Northolt or South Harrow areas after they have become a so-called ‘banking desert’.

Northolt has been without a bank branch since Barclays pulled out in October 2015 and those who switched to using the Sudbury Hill branch saw that disappear in June 2019. Residents from these areas used South Harrow and Sudbury Town to fill the gap, however they have now lost access to these services too through recent bank branch closures, with Lloyds closing in South Harrow in June of this year and Barclays withdrawing from South Harrow and Sudbury Town the following month.

Currently residents need to travel to Greenford or Harrow on the Hill to access banking services. If using public transport this can take more than 30 minutes for the bus journey alone. The same issue affects residents of Perivale who are forced to use Ealing Broadway for services or residents living in North Greenford who would have to travel either to Wembley, Greenford or Harrow on the Hill using public services that again can take over 30 minutes.

Banking closures have been rapidly growing across the country for years. For the computer literate, the effect has been negligible, shown by the fall in customers using bank branches. However, as reported recently by Age UK, there are concerns that 4 in 10 over 65s with a bank account do not manage their money online. Charity groups such as Alzheimer's Society have also raised concerns that not enough is being done to support vulnerable individuals. It is believed that individuals find it difficult or feel uncomfortable talking about financial issues in family settings and that highly technical personal banking security makes it difficult for people with dementia to manage their finances.

Banking hubs are provided by the major banks (NatWest, Barclays, Lloyds, HSBC etc) where on a rotating basis each bank staffs the site for one day a week allowing their customers to meet a representative in person to discuss their needs. They were first piloted before the pandemic and have proved to be a success in the locations where they have been used.

For a banking hub to be opened, Link (the cash machine network) needs to carry out an evaluation of an area to see if it meets the requirements. This can be requested by any individual but numerous successful applications have been led by local MPs and local councillors on behalf of their residents with Rupa Huq MP giving her backing to the ultimately successful campaign to set up a Banking Hub in Acton. A recent request made by local residents to Link did not get approved but now James Murray MP for Ealing North has now taken up the campaign alongside the MP for Harrow West, Gareth Thomas,

He says , “Although many people can use online services, I believe we need to help protect access to face-to-face banking services for residents and businesses who need them. Banks also play an important part in keeping high streets busy and bringing customers to support other local shops.”

He has set up a petition to show the level of support for the campaign which you can sign here.
https://www.jamesmurray.org/bankinghub/

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