Louie French MP's latest column in the News Shopper.
The Sidcup Banking Hub is officially open. It was a pleasure to open the new community service earlier this month and see the difference it is already making in the town.
As more and more high street bank branches close, this new model of face-to-face banking offers a way to preserve local banking services.
At the Sidcup Banking Hub, you can make withdrawals, deposit cash and cheques, pay utility bills, check your balance, or collect change for your business.
There are also community bankers from Natwest, HSBC, Santander, Barclays and Lloyds on different days of the week, so that you can speak to a real person for banking advice.
Because community bankers rotate, one common myth about banking hubs is that you can only use the service on the day your high street bank is in the branch.
I’m pleased to reassure you this isn’t the case, and you can access banking services every weekday from 9am to 5pm, regardless of who you normally bank with.
I know this will make a huge difference locally. As bank branches have closed and more businesses have gone cashless, some people have felt left behind.
Many older and vulnerable people locally find it increasingly difficult to access cash, make payments, control their finances, and get advice. Small businesses also struggle to access change-giving services.
No matter how digitally savvy a person is, we’ve all had that moment of frustration when the app or website isn’t working, and we want to talk to a real person.
That's why, as your local MP, I've led a local campaign to 'back our cash' for a few years.
In 2023, the previous Conservative government introduced new legislation requiring the creation of shared banking hubs in areas where bank branches have closed.
Together with residents, councillors and local businesses, I submitted a bid to bring a banking hub to Sidcup. This followed the success of the Welling Banking Hub that we secured in 2023, which, I am told, is one of the busiest in the country.
Thanks to the strong support from the community and the high street, we were successful. I would like to say a special thank you to St John’s Church and Sidcup Partners for providing a temporary home for the banking hub in the parish offices.
While the national trend of bank branches closing continues, the Sidcup and Welling Banking Hubs will ensure that face-to-face banking services are here to stay in Bexley’s second and third largest towns.
I encourage all residents to visit the two hubs in Sidcup and Welling, meet the friendly local teams, and take advantage of these community services.
