A new community cash pod could be installed in a Somerset town – after news it is to be left without a single bank. Lloyds announced earlier this month it was to close its branch at Crown Glass Place in Nailsea on February 1 leaving the town without any bank.
The banking giant said the decision followed an ‘in depth’ review which revealed a decline in numbers using the branch. Nailsea HSBC closed its doors in June 2021 with Barclays closing the following month. NatWest closed its doors in the summer of 2018.
Plans for the new ‘community cash pod’ have been submitted by HSBC. The new pod will be installed in a former silk flower shop. The pod will include a steel secure room for engineers to replenish the cash weekly.
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The front of the building will also be altered to house the new facility. A spokesman for HSBC said: “HSBC’s customer preferences are evolving and have changed rapidly in recent years with remote banking becoming the norm for the majority of banking customers with HSBC reporting that 90 per cent of people now conduct their banking exclusively online.
“Over the last five years, use of HSBC’s branch network by regular customers have fallen by 65 per cent with 99 per cent of cash withdrawals made via ATMs. As a consequence, HSBC is investing in and adapting its UK wide branch infrastructure to reflect changing banking patterns with the installation of community cash pods across a number of locations.
“CCPs are designed to provide access to cash for customers who have historically relied on branch services but may struggle to travel to a branch or persons with low financial or digital capability who may find it difficult to use online or telephone banking.” The application is due to be discussed by Nailsea Town Council this week.
A final decision lies in the hands of North Somerset Council.
