Fears for Somerset town when last bank closes down

-Credit:Reach Publishing Services Limited
-Credit:Reach Publishing Services Limited


Frome will soon get its own banking hub following the upcoming closure of the TSB bank. But residents have expressed frustration over the slow progress, fearing a gap in essential banking services for the community.

The TBS bank in the Somerset town is set to close on March 27. And concerns over the upcoming closure of TSB and the lack of clear information regarding a replacement bank hub were at the forefront of discussions during the latest Frome Town Council meeting on January 15.

Frome lost its branches of HSBC, Natwest and Barclays in 2023. TSB is the last bank in town.

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Resident Jill raised the issue, stating: “I’m interested in the fact that the TSB bank will be closing on March 27. Has a bank hub been prepared and is it ready to be up and running in Frome?”

In response, Sam Evans from Prosper Frome admitted that no definitive updates had been received. “We haven't had any news about the temporary or permanent site for a bank hub. I emailed them this week to find out if there were any updates,” Evans said. “They were looking at a temporary hub, trying to get it in place quickly, and suggested several potential locations, including the library. We don’t know what they’ve ended up with.”

Ms Evans further explained that while permanent sites in disused buildings were being considered, a final decision wasn’t expected until October. “At the moment, there’s no updated information on that. We understand there will be a temporary one before TSB closes, but we haven’t been told any more details.”

Jill expressed disappointment at the lack of progress. “You're still aware that the TSB closes on March 27t but there’s no arrangement?” she asked.

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Ms Evans reassured residents that work was being done behind the scenes. “They have a legal obligation to set up a hub, so they will,” he said. “I’m sure what will happen is they’ll announce it, and it will be in place the week after. But they’re just not giving us an awful lot of information about its progress.”

Jill, however, was unconvinced. “Well, I think they’re being rather slow because March is only two months away,” she remarked. “You will get agitated residents of Frome if there’s nothing in place.”

Ms Evans acknowledged the concern but assured residents that the situation was closely monitored. “We’re watching it, don’t you worry,” she said.

Frome Town Council staff member Rachel Griffin clarified that unofficial channels had suggested the temporary bank hub would be housed in the library. “Through the back channels, we’ve heard it’s coming to the library, and everything is being moved around,” Ms Griffin said. “The library service has started accommodating it.”

While this provided some reassurance, residents continued to call for clearer and more timely communication from the banking authorities to prevent disruption to essential financial services.