Closure of last bank in the Swansea Valley to be reviewed

The closure of the last bank in the Swansea Valley is to be reviewed following an appeal from a local MS.

Sioned Williams, the Plaid Cymru Senedd Member for South Wales West, has secured an agreement from LINK, which works to ensure people have access to cash, to revisit an earlier review, in light of new evidence provided by her.

LINK completed a Cash Access assessment for Pontardawe in January, following the announcement by Lloyds Bank that it would close its branch in the town before the end of the year – leaving the whole of the Swansea Valley without a physical bank.

Evidence submitted by Ms Williams detailed the geography of the local area, public transport in the valleys and feedback from residents and businesses following a public meeting Ms Williams hosted.

Older People’s Commissioner for Wales

She also shared concerns raised by The Older People’s Commissioner for Wales and Mencap Cymru about the effect of bank closures on specific groups of people.

LINK’s re-assessment is expected to take 12 weeks to complete.

Sioned Williams said: “I’m glad that LINK has agreed to revisit their review of cash access assessment of Pontardawe, because the planned closure of Lloyds Bank in the town will be utterly devastating for residents and business alike.

“It’s not as easy as visiting another branch. Yes, there are banks in Neath that are just 4.4 miles away from Pontardawe – according to the LINK assessment – but anyone who knows the area will quickly realise this is only if you draw a straight line between the two towns.

“If you travel there by road it’s a good deal further, and the closure of Lloyds in Pontardawe will impact the whole of the Swansea Valley, with thousands of residents living even further away from Neath.

“Since the decision to close the bank, I’ve been busy meeting residents and local business owners to find out how the bank’s closure will impact them. I’ve also met with organisations such as Age Cymru, Mencap Cymru and the Older People’s Commissioner for Wales to understand the potential impact on the people they represent.

“When I wrote to LINK to appeal their assessment, I was able to use the wealth of information from everyone I’ve met with to detail the concerns with transport, the ability of alternatives cash facilities to meet the demand, and the impact on some of our most vulnerable citizens, many of whom do not and cannot use online banking.”

Changing habits

Previously Lloyds had used the presence of its branch in Pontardawe to justify other closures.

Lloyds has cited changing consumer habits as the reason for branch closures due to more costumers choosing mobile or online banking as opposed to visiting a branch.