When strolling through the market town of Haslemere in Surrey, one cannot help but notice the air of prosperity that surrounds it. With its mix of local shops, popular brand stores, and bustling restaurants and pubs, empty storefronts are a rare sight. The town’s high street exudes a vibrant cafe culture, as evidenced by the success of Hemingways of Haslemere, known for its creative take on smashed avocado toast. The local Christmas market is said to be a must-see event.
While crime is not a prevalent issue in Haslemere today, a plaque dedicated to Police Inspector William Donaldson, who was murdered in 1855, serves as a reminder that the town hasn’t always been so peaceful. However, as you continue to explore the high street, you begin to sense that something is amiss. Despite its wealth and vibrancy, Haslemere’s high street lacks certain essential services such as a bank, post office, or cash machine.
This absence of traditional banking services in Haslemere has been met with outrage from both residents and retailers. They argue that it defies logic for a town as prosperous as Haslemere, located in the heart of conservative Middle England, to no longer have a bank. This situation raises the question: if not Haslemere, then where?
The lack of banking options in Haslemere is undoubtedly an inconvenience for the town’s MP, Jeremy Hunt, who also serves as the Chancellor of the Exchequer. Hunt has been vocal about poor saving rates and the issue of debanking, particularly in the aftermath of NatWest’s decision to close Nigel Farage’s Coutts account. The Treasury has introduced new rules to ensure access to cash services for the majority of consumers and small businesses, yet the closure of bank branches in towns like Haslemere continues unchecked.
The absence of banks has left two prominent buildings on the high street empty and unsightly. It’s also worth noting that Haslemere has lost not only its banks, but also its post office and cash machine. While there is a post office on the other side of town, it is a considerable distance away. As a result, there are no cash machines on Haslemere’s main high street, creating inconvenience for both shoppers and business owners.
Not all hope is lost, however, as plans for a new-style banking hub, offering services from all major banks, are underway. Such shared branches are funded by the banks and Nationwide Building Society, and run by the Post Office. They provide basic banking services, as well as access to bank staff on specific days for more complex financial matters. While the delay in opening the hub has frustrated the town’s residents and business owners, there is hope that it will be operational by the end of the year. The hub is set to be located in the former Lloyds branch, potentially with an outside cash machine.
The prospect of a banking hub in Haslemere is certainly welcomed by local businesses, as it would provide easier means of depositing cash and access to cash withdrawal services. However, questions remain as to why all the major banks chose to abandon a prosperous town like Haslemere. Many residents, especially the elderly, value the personalized service of a bank branch, and it seems like a missed opportunity for banks to grow their customer base. Perhaps the launch of the hub will serve as a reminder to the banks of their responsibilities to communities and high streets across the country.
It’s worth noting that the rollout of these banking hubs has been slower than anticipated. Although 80 hubs have been announced, only seven are currently operational. This delay has understandably frustrated residents and businesses in towns where hubs have been promised, leaving them without access to banking services for extended periods. The situation highlights the need for banks to fulfill their commitments to communities and ensure the timely establishment of these much-needed hubs.
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