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Rutland will become the first county in England not to have a high street bank when HSBC closes its Oakham branch in June
Rutland will become the first county in England not to have a head bank when HSBC closes its Oakham branch in June.
The county, the smallest county in England with a population of less than one million, has seen a number of establishments close in recent years.
Famous for its boarding school, Uppingham lost its last sofa when Barclays closed its branch in April 2019.
Oakham, the county’s main town, has already seen NatWest, Lloyds and Santander pull out.
The two remaining banks – Barclays and HSBC – will close in the next four months as a result of broader branch closing programs announced this year.
Sign of the times: Rutland will become the first county in England not to have a head bank when HSBC closes the doors of its Oakham branch in June
Collectively, the major banks have said they will close more than 100 outlets in the coming months as both cash use and branch use decline. ATM operator Link has recommended establishing a new banking center in Oakham, paid for by all major banks. This community bank would allow local businesses and residents to deposit cash, withdraw money and see a representative from their own bank on certain days.
But so far there has been no agreed timetable for the installation of the hub – the responsibility of the Cash Access UK organisation.
Locals fear HSBC will close before the hub is operational.
So far, of the 38 hubs proposed by Link, only four are open for business. John Howells, CEO of Link, agrees that the hub in Oakham should be opened soon.
‘Any gap in the service when the last branch closes is undesirable,’ he says.
Only Melton Mowbray of the country’s banks and building societies will have a branch in Oakham when HSBC leaves the city.
The county will still be home to 13 free-to-use ATMs and nine post offices.