A shared Banking Hub that was scheduled to arrive in Welshpool to compensate for the closure of the town’s high street banks has been delayed - but the area's MP insists the plans remain "rock solid".

Following the departure of Barclays and Lloyds Bank when they closed their Welshpool branches, a shared Banking Hub was proposed as a means to provide town residents with access to over the counter banking services.

However, while the organisers of the initiative insist plans are still in development to deliver the facility to Welshpool, it will not arrive in the planned window of summer, 2023.

The project was spearheaded by Cash Access UK and LINK, who are responsible for the UK’s ATM network and access to cash services.

A spokesperson from Cash Access UK said: "We're working really hard to deliver the new Hub in Welshpool.


“Finding the right premises and getting appropriate planning permissions, does take time and we understand the frustrations, but we look forward to opening the Hub later this year."

Both Cash Access UK and Montgomeryshire MP Craig Williams remain confident that the Hub will open in 2023.

Mr Williams was among several local politicians who welcomed the initiative when it was first announced in August 2022, having labelled the departure of Barclays and Lloyds “extremely disappointing”.

He said: “I am in continual contact with both LINK and Cash Access UK, and the commitment to bring a Banking Hub to Welshpool remains absolutely rock solid.

“Delays to their plans have been solely down to conveyancing issues beyond their control, and works will commence soon on an identified location within the town centre.

“I know how vital it is for residents to have on demand access to cash and banking services following the closure of both Barclays and Lloyds within recent months, and I very much look forward to the Hub opening in Welshpool this year.”

A Bank Hub in Welshpool would represent the first of its kind on Wales, joining two locations already open in the UK, Cambuslang in South Lanarkshire, Scotland and Rochford, Essex.

John Howells, Chief Executive of LINK said: “LINK is delighted to take on such a key role, working independently alongside the banks to ensure that the cash needs of communities continue to be met.”