Thame residents and businesses demand better banking facilities

The campaign for a banking hub in Thame follows a recent assessment by Link, which independently assesses communities’ cash needs.

The evaluation determined that Thame should be provided with an Automated Deposit Service (ADS) machine at the Morrisons/Post Office premises on Cornmarket once the last bank (Lloyds) has closed w/c 17 February. Lloyds will have a presence at the Town Hall, but it will not take deposits, while the ADS machine will provide limited cash deposit facilities only.

While the Nationwide Building Society will remain in Thame after Lloyds has closed, it does not offer business or charity banking services, and many fear community groups, charities, and businesses that take cash will have to travel to Aylesbury, Oxford, or High Wycombe for their banking services. Personal banking customers will have to do the same unless they switch to Nationwide.

A banking hub would offer a broader range of services, including daily counter services for personal and business banking, with the major banks providing a face-to-face presence for queries on scheduled days each week.

In making its decision for an ADS machine, Link assessed Thame as an urban location with a one-mile radius, failing to consider the town’s rural hinterland, including large villages such as Haddenham and Chinnor and smaller villages such as Towersey and Chearsley. With a population of over 30,000 within a five-mile radius, the surrounding villages depend on Thame for many of their needs, including banking services.

Town Council & MP Support Campaign

Thame Town Council fully supports the need for a banking hub in Thame. It believes the ADS option is unsatisfactory with a limited deposit service only, whereas more extensive banking services for personal and business banking are available in a banking hub, which the council believes is far more suitable for Thame and its large hinterland.

Freddie van Mierlo, MP for Thame and Henley, also supports the campaign. He said, ‘Thame, along with its large rural hinterland, relies heavily on accessible banking services. The closure of the last remaining bank in Thame, Lloyds, has left a significant gap that an ADS cannot fill. The Post Office within Morrisons is too small to accommodate the ADS facility, and the current arrangements do not meet the needs of our residents and businesses. I urge Link to reconsider its decision and approve the establishment of a banking hub in Thame. This would greatly benefit our community and ensure that Thame remains a vibrant and accessible town for all.’

A Better Option

At least 200 towns currently have banking hubs, some obtained after an ADS decision was overturned. The Labour Government reportedly wants 350 hubs in place during the life of this Parliament, and many believe Thame should be one of them.

A leaflet/survey is currently being distributed to households throughout Thame and surrounding villages and is also available online via a link on the Thame Town Council website: www.thametowncouncil.gov.uk The campaign is also being promoted on social media, where support is growing fast.

Those who support the campaign for a banking hub in Thame are encouraged to take the online survey ( www.surveymonkey.com/r/C9XY8BR ) or complete the leaflet and return it to the Information Centre, Thame Town Hall, High Street, Thame OX9 3DP.

Replies must be received by Friday, 28 February.