The closure of a town’s last remaining bank always throws up challenges for its community – but even more so in Tenby.

A tourist trade that can swiftly expand the population from 4,500 to 65,000; a myriad of small businesses where cash is the preferred transaction and a large number of senior residents combine to create a more complicanted conundrum than the norm.

Two weeks ago, the town’s branch of Barclays shut its doors for the last time. Lloyds TSB, Nat West and Santander have all departed in recent years.

Yesterday, Wednesday November 30, HSBC announced they are to pull out of Tudor Square, where they have had a presence for decades, originally as the Midland Bank.

HSBC's departure will not only leave the town without a bank, but will see just one cashpoint - outside Tesco Express - inside the walled town.

The news from HSBC saw the town’s postmaster and mayor both springing into action to seek a solution to the situation.

Vince Malone, who provides business and personal banking services at Tenby Post Office and Stores, is immediately putting plans into place to redesign the layout of his business.

“If we get the extra volume of people in that we did when Barclays closed, that will be significant,” he said.

“But we’re very happy to welcome them, as we do like running the post office and helping people bank, and hopefully that message will continue to get across.”

“The HSBC closure announcement has been an absolute shock for the town – it’s the fear of the fear.”

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“It’s such a sad state of affairs,” said Cllr Sam Skyrme-Blackhall, who is also county councillor for Tenby South. “How times have changed.

“We have always been loyal to the banks, and yet the banks are not being loyal to us.

“The community is so worried.

“Vince and his team provide an amazing service, and we all support them 200 per cent, but we can’t expect them to do the whole shebang.

“That is why I am talking to different professionals about the possibility of a community banking hub.

“I’m looking at every eventuality which is going to be right for the town.”

Postmaster Vince, who is the Welsh secretary of the National Federation of Sub Postmasters, added: “There are now a whole lot of towns throughout the country without banks, but not many which are as cash-centric as Tenby.

“We deal with around 60 per cent of businesses in the town, and a lot of those are trading mainly in cash.

“And we don’t want them to stop taking cash .

“If they do so, people who want to pay in cash are going to feel disenfranchised.

“And for a lot of people, if you remove their access to cash as a budgeting tool, they will struggle."

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Vince has spoken to local councillors, politicians and businesses to ensure they are aware of what banking services Post Office can provide.

“We can’t sort out mortgages or loans, but we are open seven days a week and our whole team is ready to help people.

“Without a doubt we will cope, and our job is to take people through the journey of managing their money.

"I would say to anybody who is worried: ‘Come in and talk to us – we can allay your fears’."