New blow to Machynlleth as bank is to close
Another bank is to close its doors on a Mid Wales town. HSBC has announced that it will be closing its Machynlleth branch on June 19.
It says it will liaise with customers to ensure they are able to continue accessing their banking services, and has announced an agreement with the Post Office that allows customers to withdraw cash, check balances, and pay money in at their local branch.
Glyn Davies, Conservative MP for Montgomeryshire, has expressed his disappointment and said that banking services must be protected for all customers.
He said: "The closure of the Machynlleth HSBC is a hugely disappointing blow to the town and to HSBC's customers.
"Over the counter services are extremely important to many people who prefer not to bank online or who are unable to. In particular it can be difficult for the elderly to cope with change. While the younger generation prefer to bank online, I know that many others want to be able to talk to a real person.
"I am pleased that HSBC have reached an agreement with the Post Office to allow local people and businesses to conduct a range of services over the counter, but this does not totally compensate for any branch closure."
