OPTIONS are being explored by Llandrindod Wells Town Council regarding the future for personal and business banking in the town.

The town council has established a task and finish group following the closure of the Barclays Bank branch in August, which has caused concern locally. It follows the closure of the spa town’s Santander branch in 2018, while even HSBC are operating at reduced hours – open from just 10am to 2pm daily during the week.

The Post Office is able to provide business and personal banking services and the town council are liaising with the firm to explore options, while the Welsh Government’s Banc Cambria scheme is another possibility.

In a letter sent out to businesses in the town regarding the future of banking in Llandrindod, Councillor Keith Brelstaff said: “Llandrindod Wells Town Council has set up a task and finish group with county councillors Jake Berriman and Pete Roberts, to consider the impact of the remaining national high street banks no longer having a permanent physical presence in the town and what measures can be put in place to provide both personal and business banking.

“The Post Office is able to provide business and personal services and we have asked for their

view in terms of managing increased demand. There are other possible developments, for

example Banc Cambria, that we are also interested in pursuing.

“The Robert Owen Community Banking is another possibility we would like to explore and we wanted to bring to your attention a survey being undertaken in Mid Wales by them.”

Anyone can view the survey by visiting https://www.rocbf.co.uk/2021/06/29/heart-of-wales-economic-assessment/.

“By taking part you will add to the data that will assess the feasibility of such a community bank and help ensure that mid Wales is not forgotten,” added Cllr Brelstaff.

Three local post office branches offer banking services – including two in the spa town itself and one in the neighbouring village of Howey.

The nearest post offices are located in Station Crescent and Tremont Road, as well as the mobile post office service available at Howey Village Hall.

Banc Cambria, meanwhile, is an exciting new project being developed with the support of the Welsh Government. It aims to provide a full banking service across Wales, but unlike other banks, it will be owned and controlled by its membership, not outside shareholders.

Plans have been discussed with introducing a branch in Knighton too, with the firm aiming to have a banking licence from the Prudential Regulatory Authority (PRA) by autumn 2021. The large number of new applications from European banks seeking a UK licence to avoid Brexit problems, however, is causing delays to the application process, so bank chiefs are unsure of the timetable at the moment.