The town of Treorchy, Rhondda Cynon Taf in south Wales is facing a cash machine shortage, leaving residents and business owners concerned for the future of the high street. The problem arose following the closure of the last bank branch in the town, which occurred in April. The remaining cash machines in the town have been struggling to cope with demand, with the area’s businesses and residents being affected. Although there are two other cash points available, they have failed to keep up with the demand, sometimes running out of cash twice a day.
Sara Bailey, who runs Hot Gossip coffee shop, is one of the business owners in Treorch that has felt the impact of the cash machine shortage. The shop and others in the area have suffered since Barclays closed its branch, as the cash point it had has also ceased operation. “We are a cash-only business here, so we have had to turn customers away. A few other businesses here have had to do the same,” said Bailey. Another shop that has felt the impact is Top Cards, a greetings card store run by Nicola Lund and her father.
Wales is facing an increasingly common situation, as over 20 bank branches have closed in the country this year alone. By 2025, it has been predicted that Wales will have lost two thirds of its bank branches since 2015. Online banking is a key reason behind the trend, which has led to significant changes in consumer behaviour. In response to the increased demand, mobile banks and temporary hubs have been set up. Barclays has already provided a van that visits Treorchy twice a week.
Cash Access UK has set up temporary hubs across the country to deal with the cash machine shortage. In Treorchy, there is a temporary hub located on the old site of the former Barclays bank on Bute Street, open from Monday to Friday between 09:00 and 17:00. Research by Which? indicates that by the end of 2025, Wales will be left with only 188 bank branches, having lost over two thirds of its branches since 2015. This has led to the Welsh Affairs Committee launching an inquiry into the issue. Adrian Buckle from UK Finance has stated that banks reviewing the costs of operating branches is partly behind the trend
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