With the recent closure of Nat West Bank, the last remaining high street bank in Faversham, local residents and businesses no longer have access to banking facilities within the town. Proposals to combat this include the provision of Banking Hubs in Post Offices, as well as installing cash machines in other locations.
Faversham has been selected as one of just two towns in Kent to have a cash machine installed. The withdrawal and deposit cash machine will be unmanned and will allow businesses to cash in their takings, and users to withdraw cash – where the machine will be placed is yet to be decided.
The Mayor of Faversham, Cllr Trevor Martin comments, “I am pleased that UK Finance have recognised that the decision by three major banks to close their branches in Faversham has caused problems not just for personal customers, but also for small and medium-sized businesses. The consultation as part of the banking innovations pilot scheme, is a positive sign that the needs of Faversham as expressed through the Town Council are being taken seriously.”