Sidmouth resident’s ‘multi-bank’ idea ‘unworkable’

PUBLISHED: 13:00 19 December 2017

Sidmouth's NatWest bank will close next summer. Picture: Google

Sidmouth's NatWest bank will close next summer. Picture: Google


Banks say licensing issues make a resident’s idea for a ‘multi-bank’ to secure a point of contact for customers are unworkable.

Tim Farndon proposed the collaboration after NatWest was the latest bank to announce that its Sidmouth branch was set to close.

He said the likes of Lloyds and Santander could share operating costs and use technology and specific tellers to handle different enquiries.

A NatWest spokesman told the Herald the idea is ‘unfeasible’ as it would be ‘too complicated’ to secure the licences under one roof.

The bank’s Sidmouth branch is set to close on June 27 after it revealed only 67 customers visit it each week.

A Lloyds spokesman said the bank continues to support customers in Sidmouth, but the Post Office has also increased access to banking services for personal and business customers, who can use it to make cash withdrawals, deposits and balance enquiries.

If you value what this story gives you, please consider supporting the Sidmouth Herald. Click the link in the orange box above for details.

Become a supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Comments have been disabled on this article.

Latest from the Sidmouth Herald