Vale of Clwyd MP Dr James Davies, who played an instrumental role in ensuring the return of cash machines to Prestatyn High Street after all were lost last year, has now signed a pledge supporting the UK's cash infrastructure.
When it became clear in January 2021 that Barclays and HSBC were to close their Prestatyn branches and remove the final two ATMs in the High Street, James launched a public campaign to see the reintroduction of cash machines in the town centre.
He liaised with Principality Building Society, cash machine network company LINK, as well as ATM providers, including Notemachine, Cardtronics, PayPoint and YourCash. He also contacted local shops, encouraging them to consider hosting a cashpoint, and worked with the Town Council over other potential approaches.
The aims of the campaign were met, with new free-to-use Cardtronics machines at Principality Building Society, at Jenny’s (130 High Street), and at Meliden Road Post Office.
Whilst this was a great outcome for Prestatyn, James is aware that despite the continued need for free cash access, changes to the way ATMs have been funded has left many cash machine operators forced to pass business costs onto consumers – threatening further cuts to the number of free-to-use ATMs across the country.
He has therefore joined colleagues in Westminster in signing a pledge supporting the UK’s cash infrastructure.
At a Parliamentary event, hosted by the UK’s second-largest ATM provider, NoteMachine, James heard from the company's CEO, Philip Bowcock, about the urgent need to protect free access to cash in the UK – with more than two-thirds of the UK population believing cash is essential or important to our society.
He also heard how, without Government intervention on this, the UK risks sleepwalking into a cashless society.
James said:
“Despite the move toward online payments and banking, cash remains king for so many, including the most vulnerable in society, those living in rural areas and small shops and businesses – the lifeblood of our local communities.
"This was demonstrated when all cash machines were removed from the High Street in Prestatyn last year and I received countless emails and calls from constituents who were upset and concerned at their loss. I was delighted that we were able to see three returned. However, as was highlighted at this event, access to cash remains at risk.
"I was therefore keen to sign this pledge, demonstrating my continued commitment to protecting free access to cash for my constituents."
Meanwhile, James has been liaising with LINK over the possibility of Prestatyn being considered for a banking hub.
At the start of the year a landmark agreement was reached by the banks forming UK Finance’s Cash Action Group, ensuring cash availability. However, only communities affected by bank closures from the start of this year were in scope, therefore excluding Prestatyn.
James has now been informed that the agreement has been extended to include all communities, regardless of when any local branch closures occurred, and he is therefore putting forward an application for Prestatyn which will be accessed by LINK.
James said:
"This is great news and I will most certainly be putting forward Prestatyn for assessment.
"I have been discussing the introduction of banking hubs with Ministers in the Treasury for some time.
“The introduction of banking hubs marks the beginning of a long-term commitment to ensure ongoing banking access for communities where services are limited. I believe, given the number of banks we have lost in Prestatyn in recent years, the town is a strong contender for one."
