Fakenham banking hub hopes for town centre are raised

In 2023, Fakenham lost three banks, after HSBC kicked off the trio of closures when it shut in May.

In August HSBC was joined by NatWest in leaving the town and Barclays rounded off the hattrick when it shut in early October.

Fakenham Town Council says a banking hub would be welcome and the town's MP is asking for banks to co-operate to create a one-stop banking point.

Jerome Mayhew, MP for Broadland, said: “I have worked with the banks to provide an ongoing physical presence in the town so that face-to-face banking can still take place.

Jerome Mayhew, MP for Broadland (Image: Archant 2022)

“I want them to cooperate so that all bank customers can visit a single, town centre location and the best way to do this is for a voluntary adoption of a banking hub.”

Leader of North Norfolk District Council, Tim Adams, said he was “delighted” with the progress on the banking hub in Holt, saying there are “less than 10 facilities nationally at this time.”

Mr Adams added: “We are confident a banking hub branch will be successful in Holt and that more will open across Norfolk in future.

Leader of North Norfolk District Council, Tim Adams (Image: NNDC)

"In this respect, Fakenham remains a location where we are committed to trying to secure a banking solution.

“The reality is that bank branches will continue to close and the range of services they provide, beyond just access to cash, can only be replaced directly by banking hubs and business deposit solutions.”

Only Nationwide and Lloyds remain open as branches in Fakenham, but a Barclays Local has opened at Fakenham Community Centre.

The former NatWest branch in Fakenham (Image: Aaron McMillan)

A spokesperson for Fakenham Town Council added: “We are well aware that residents are finding it increasingly difficult to access cash in the town.

"Whilst cash is available from supermarkets, their ATMs are frequently out of use, having run out of cash. 

"A banking hub would certainly be welcome in our town.”