Anger as axe hangs above Blaenavon's only bank (From South Wales Argus)

Anger as axe hangs above Blaenavon's only bank

8:10pm Sunday 15th January 2012 in News By Melissa Jones

LOCAL councillors are hitting out at the decision to close Blaenavon's only bank.

Councillors Brian Whitcombe, Tom Huish and Stuart Evans say HSBC, which will serve customers for the last time on May 11, provides a vital service for the town's residents and businesses.

The banking giant says a commercially viable route could not be found for justifying keeping it open and all customers will be written to tomorrow.

Until informed by the Argus today, all three councillors said they did not know about the plans.

The news comes five years after we reported the bank, the only one left out of four in the town centre, was cutting its opening hours from five per day to just three.

At the time, residents and town councilllors expressed their disappointment at the introduction of the reduced service, but news they are to lose it altogether has come as a hammer blow.

"It will be disastrous for the town," Cllr Brian Whitcombe said.

"The people of Blaenavon will be in uproar."

Customers will automatically have their accounts transferred to the Pontypool branch six miles away while there are other branches in Abergavenny 6.7 miles away and Ebbw Vale 7.7 miles away.

But Cllr Tom Huish, who is one the bank's customers, said those without transport would be hit hardest by the closure.

"It would be very difficult for them to get to Pontypool," he said.

"We weren't very pleased when they reduced the hours as I don't think it was fair for people who work, but this is a worse scenario as a lot of local traders use the bank."

Cllr Stuart Evans said Blaenavon has a large elderly population who rely on having access to services on their doorstep.

"Younger people may be able to do banking online but older people prefer to do it face-to-face," he said.

"I'm very, very disappointed by the news."

HSBC has been the only bank in the town since Natwest closed around 15 years ago.

Cllr. Evans said it is a likely a petition may now be organised in a last-ditch attempt to save the bank.

If the closure does go ahead, staff at the branch will be redeployed to other HSBC branches in South Wales.