Julie Marson, MP for Hertford and Stortford, has today reacted to news that the Bishop’s Stortford branch of Barclays, located at 10 North Street, is to close permanently on 12th April 2024.
Speaking of the planned closure, the local MP said:
“The closure of this bank branch in Bishop’s Stortford is very disappointing. I was notified yesterday (11 January) and plan to meet with Barclays executives at the earliest opportunity to quiz them on this terrible plan.
“Despite modern innovations, we do not live in a cashless society. People still require banks and I am determined to do everything in my power to ensure access to cash is safeguarded across Hertford and Stortford.
“Residents may know that the Ware community and I successfully campaigned for the town to receive a shared infrastructure bank (SIB), whereby select banks that everyone knows each operate out of the same physical presence, sharing costs, on different days of the week. While this is great news, Hertford, Sawbridgeworth and Bishop’s Stortford and now at risk.
“While I tried to secure a SIB for Hertford, current rules set by the Financial Conduct Authority (FCA) mean that while banks are still operational in the town, I cannot secure the SIB the area will inevitably and eventually need.
“This is deeply concerning given the situation in Bishop’s Stortford now too. We see bank closures happen far too often. My argument is that when the direction of travel is clear to everyone that banks are shutting down one-by-one in towns, we should be intervening before a community is left with just one and at risk of losing all high street banks. This will allow skilled banking staff to move over to this new SIB as seamlessly as possible, rather than leaving the local community in a cash limbo.
“That is why I am engaging with the FCA to get them to change their rules. In light of the news about the Barclays branch in Bishop’s Stortford, I will expedite these efforts, making this endeavour my top priority.”