Over recent years we have seen many of our banks within the constituency close, I have been a strong advocate for ensuring access to cash, that is why I campaigned for the installation of a free to use ATM in Rochester High Street, at the Visitor Information Centre in 2019.
I was particularly concerned, when Medway Council decided earlier this year to close the Visitor Information Centre to make up for their mismanagement of the budget. This risked the access to the ATM and I have made several inquiries with LINK and the owners of the building to ensure that the ATM will be accessible until October 2025.
It is absolutely shocking that Medway Council have risked access to cash in our constituency when we are experiencing many closures of banks and reduction in banking services. This is yet another example of the contempt that the Labour council have shown for residents, as they have put access to cash in Rochester High Street at risk.
I have explored the possibility of introducing a Banking Hub to ensure that banking services can still be accessed in the constituency, when I met with LINK earlier this year, they advised that the main influencing factor as to whether a Banking Hub can be established is whether there is another bank in close proximity. Due to Nationwide still being open, a Banking Hub is not currently an option. To this end and the strict criteria that LINK have to follow, I have signed my colleague, Julie Marson MP’s letter to the CEO of the Financial Conduct Authority (FCA). The letter outlined our concerns for our communities, recognising that we do not live in a cashless society that LINK should not have to abide by the “last bank in town” rule but rather assess each community uniquely and properly protect access to cash.
I will be continuing my campaign to ensure that the people and businesses of Rochester and Strood continue to have Access to Cash and the vital banking services that they require, despite the reckless attempts by the Labour council to put this at risk.
I have started a petition on securing Access to Cash in Rochester and Strood and I would be very grateful for your support with my campaign.