MS slams banking hub decision after branch closure

A Plaid Cymru MS has questioned the decision not to create a banking hub following the planned closure of the last bank in the Swansea Valley later this year.

Lloyds announced the closure of the branch in Pontardawe in November 2024.

Proposals to close the last bank in the Swansea Valley this November were subsequently reviewed following an appeal from Sioned Williams, the Plaid Cymru Senedd Member for South Wales West.

LINK, which works to ensure people have access to cash, agreed to revisit an earlier review, in light of new evidence provided by her.

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.

Having carried out an assessment of the cash services that would remain in Pontardawe high street, LLINK has now stood by its earlier decision and confirmed they would meet the community’s needs.

‘Facts on the ground’

Ms Williams has  challenged the decision citing the “facts on the ground” which include the travelling distances between Pontardawe and neighbouring communities, the practicalities for people who are reliant on public transport, the location of ATMs, the number of businesses acknowledged by LINK, and the fact that so many businesses in the town are cash based.

While Lloyds Bank has promised a ‘Community Banker’ for Pontardawe which will provide face to face support, this will not be able to handle transactions, and Lloyds has indicated that this would only be available once a fortnight in Pontardawe.

Disputing

Sioned Williams said: “When LINK assessed Pontardawe in the wake of the news that Lloyds Bank will close – the last bank in the Swansea Valley – they concluded that there were sufficient banking services nearby. This is a decision that I am still disputing after hearing the feelings aired in the public meeting I held, in ongoing conversations with residents and local businesses, and because this is my town and my bank, and so I know only too well that the alternatives suggested by LINK are not practical.

“Many of our local businesses operate in cash only, and having to travel to Neath to do their banking will likely require them to close their shop for an extended period of time, particularly those reliant on public transport. Anyone who has tried to make the journey from Pontardawe to Neath by public transport will know there is just one bus route, the 256, which runs no more than 10 times a day, with a large gap in the afternoon. I also have concerns about the low number of businesses identified by LINK.

“The LINK assessment also doesn’t take into account the wider community that will be impacted by this closure – including residents of adjoining villages and towns such as Rhos, Clydach, Gwaun-cae-Gurwen, Cwmllynfell and Ystalyfera.

“While the people of Pontardawe and the wider area are under no illusions that financial services are changing, all they – and I – ask is that their request for a banking hub be given proper and full consideration with appropriate attention paid to the facts on the ground.”

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.