THE clock is ticking towards the end of a permanent traditional banking presence on Bodmin’s high streets with the impending closure of Lloyds and Halifax.

Such is the impact that the closure of the branches will have, with a banking hub operated by the Post Office set to open in its place.

The two branches will follow HSBC, TSB, Barclays, Natwest, Nationwide and Alliance and Leicester in being among the banks which have exited the town over the years, bringing to an end the presence of banks in the traditional sense on the high street.

The plans come amid waves of banking closures across the country, with their operators citing a decline in use for their closure.

In their place, the Post Office located in the Costcutter store on Fore Street has taken on the basic functions previously provided by the bank, including the ability to put money in bank accounts and withdraw.

However, the closure of the banks have led to a large absence of ATM machines to access cash - with access to cash from machines presently set to only be available from outside three of the town’s supermarkets.

A planning application has been put into place to bring a new cash machine to the town’s high street, outside of the Costcutter, and has won the support of Bodmin Town Council’s planning committee.

The first of the two branches remaining in Bodmin to close will be the Lloyds Bank branch on June 20, 2024.

Halifax is set to remain open for longer to allow for the establishment of a banking hub to replace it, with its closure currently slated for September 26, 2024.

There is no concrete date set for the new banking hub in Bodmin to open.

It is understood that plans are progressing and it will still open, with negotiations on a preferred location believed to be progressing as intended.

The new banking hub will feature representatives from banks, known as community bankers on selected days, for example, Mondays might feature HSBC, Tuesdays a representatives from Barclays and so forth.

Cash Access UK, the body responsible for setting up the banking hubs approached for comment for an update on this.

At present, upon the closure of the Halifax and Lloyds Bank branches in Bodmin, the nearest free to use ATM machines are located outside of the Sainsburys supermarket on Dennison Road, the Asda supermarket on Launceston Road and the Morrisons supermarket on Priory Road.

Cash withdrawals and deposits can be made from the Post Office on Fore Street and if the proposed ATM is approved outside of it, this will mean the retention of an ATM on the town’s high street.

It is understood that the banking hub will be available for cash handling, although the form this will take is not presently clear.