THE mayor of Holsworthy has reacted with disappointment after his bid to get a banking hub in the town was refused by the body which is overseeing their roll out.

Like many other towns, Holsworthy’s high street has seen the exit of virtually all banking provision, with some places seeing them replaced by Post Office managed Banking Hubs, which provide a single place for residents to undertake most of the transactions that they previously could in banks.

However, Cash Access UK, the bank backed organisation which decides where a banking hub will go, has declined Mr Hutching’s request for one to come to the town.

It said that in its view, there was enough cash access services and facilities within a three mile radius of the town that was suitable for the needs or the local area or that the deficiency in cash access does not cause a significant local impact on the area.

The assessment outcome stated: we are not recommending the provision of any new or improved cash access services in Holsworthy at this time. This is because our assessment shows that there are already cash access services and facilities in the local area or the deficiency does not cause a significant impact on the local area.

“The facilities include at least one of each of the following and in some cases more: a free cash deposit and withdrawal service for personal current accounts, a cash deposit and withdrawal service for business accounts, a post office and a withdrawal ATM.”

Cash Access UK said that the nearest branch outside of the Holsworthy high street was at the Bude banking hub, which is 8.5 miles away and 22 minutes by bus.

It also cited the proximity to Nationwide branches in Torrington (13.5 miles, 103 minutes by public transport) and Bideford (15.9 miles and 42 minutes).

The Cash Access UK review also cited the proximity of two free to use ATM machines located externally to Holsworthy Post Office and internally at the town’s Co-Op supermarket and BP fuel station while adding that there were three Post Offices within a six-and-a-half-mile radius of the town.

Cllr Hutching’s intervention comes weeks after it was confirmed that the Coventry Building Society would be exiting the town as it abolishes its network of agency branches.

Speaking to The Post, Cllr Jon Hutchings, mayor of Holsworthy said: “My aim was to see if we could get a banking hub in the town. It wasn’t the response I was hoping for.

“We have cash machines and a post office which serve the community well but no actual banking facilities

“I see they comment on times to get to other places on public transport, that’s the journey time, not the waiting times and the access to the actual buses, so it is not what I was hoping for

“I will be contacting our MP to see if he can help out as I personally feel the town would benefit hugely from a banking hub.”