In the temporary absence of the normal ‘writer of rants’ on this site, our Cub Reporter has delivered this quick (?) round-up of the banking establishments left in Havant and why cash is important:
Barclays – The branch in East Street closed in August 2022. There is now a ‘presence’ in the Library in the Meridian Centre, on Tuesdays and Thursday morning, offering ‘help with money management, our products, services and transactions that don’t involve cash or cheques.’ (this text was copied from Barclay’s website), so you can’t withdraw any money or pay a bill. I don’t understand a bank that can’t do these things.
I remember, as a child, being taken to the bank to pay in any birthday or Christmas money I was fortunate enough to receive, doesn’t this happen any more? We transfer birthday money online to grandchildren who live abroad, and it’s great to be able to do that, but how to teach children about money, what it can buy, and saving, when you can’t touch it or count it out? Do children still play at ‘shops’? An important part of the game was adding up the prices and counting back the change – mimicking what your parents did. Do children just wave a card (or mobile phone) in the air now?
I digress . . .
The HSBC branch is now a Domino’s. There are alternative branches (HSBC, not Domino’s) in Waterlooville, Portsmouth and Chichester. The Waterlooville branch is a ‘digital service branch’. This is a ‘counterless branch providing ‘traditional’ cash and cheque transactions using self-service technology, with an emphasis on assisting with digital technology adoption and product fulfilment alongside other more complex, non-standard service requests.’ (??! Ed)
The local story is that Nationwide was interested in relocating to this site from West Street but Domino’s got in first – so providing more options on fast food alley.
The National Westminster in West Street is due to close in September. The Waterlooville branch has already closed and the branches in Cosham and Petersfield are also to close later this year. There are NatWest branches in Portsmouth City Centre and Chichester.
Havant’s Santander closed pre-Covid, in 2019. When this was announced the Cosham branch was offered as a nearby alternative however this has now closed (August 2021). The nearest branches are Waterlooville, Portsmouth and Chichester.
So, particularly for the larger banks and building societies, we are left with big, open plan, modern branches. The ‘greeter’ asks how they can help, then tells me I can do that task at a self-service terminal, or use an app on my phone. Actually, I can’t. As well as this, there is often a lot of background activity; people and music, so I can’t hear properly. Who and what are these places designed for? Perhaps not their loyal customers. Do I want to discuss personal matters at an open desk in a barn, having to cling on to my bags and paperwork as there are many people swimming round? It is a huge distraction at a time when you need to focus. Some years ago this is the environment where I had to discuss matters following a family bereavement (I won’t name the establishment) this experience was far from courteous or appropriate, and not how anyone should be treated.
I would add that many of these barn banks are in precincts so I cannot get a car near enough, so am unable to take a couple of older people I help out to the bank anymore, or need to get additional help for the visit. For them, ‘online’ or ‘mobile apps’ are not viable options.
If you have to do a particularly large transaction, perhaps over £1000, you will find that this cannot easily be done online – at home or in the branch – and you may actually need a human to assist. So if you’re paying off the balance for a car, or moving money for a house purchase, this has to be done in an open area with no privacy whatsoever. And, as we discovered recently, some banks now charge for this!
Havant still has Halifax, Nationwide and Lloyds, all staffed by real people, who can do real banking things. You might be surprised to know that Southsea only has a Lloyds Bank remaining, although I note that the Havant Lloyds is now closed on Fridays. This means that on a Friday, their only available cash machines are outside on a busy corner; a safety issue for a number of people (and we are all aware of the accidents outside St Faith’s church). Personally, I try to only use cash machines located inside a bank or get cashback in a supermarket, where it is offered, a service that with the relentless growth of self-service checkouts is becoming increasingly rare.
There is also the Post Office (near to Havant railway station) which can cover some, but not all, banking needs and is always cheery. Nearby Emsworth has no banks remaining, just a Post Office counter at the back of the local Co-Op supermarket.
All these alternative bank branches can be reached by bus from Havant, which is free if you qualify for a bus pass, or a £2 fare each way (while the current subsidy lasts), which is workable if you are able, have the time and the inclination. I can do this. Many cannot take the time out or undertake such a journey.
Cash is important – particularly for small purchases. When you pay by card the seller is charged a small amount, a handling fee, which is why some businesses will only accept card payments for over a particular amount, as the additional charges eat into their profits. Using a card for payment may be convenient, but it isn’t always good for the business.
Cash is particularly important to those who are tied to their home, this is the method of paying the hairdresser, the chiropodist, the chap who tidies the garden once a month, reimburses neighbours who do bits of shopping to supplement the bulk shop, and the lad who brings in the weekend newspaper. And there’s the charity collections, collections after social events and markets. Cash is critical to these transactions. Cheques are the other option but many of these people don’t want the hassle of getting to a bank themselves to pay them into their account!
It’s all a balance. There are the safety issues – if there is no cash on the premises, then there is no temptation. There isn’t the risk of an assault while taking cash to the bank or bringing change back. If there is no bank in town, what happens to the day’s takings? On the other hand, if there’s no cash, then, for the business, the end-of-day cashing-up is a far simpler task.
Some businesses are completely cashless, a move accelerated by Covid. It is a crazy situation, alienating many that are unable to pay in any other way; your custom isn’t welcome because you don’t have a smartphone with a particular app. We’ve all seen situations where there’s been a power cut and a store has been unable to open because the tills are out of use, or can only take cash when the card reader isn’t working. What will happen when there’s a fault with the internet and all this smart technology doesn’t work? What’s the fallback plan then?
Only recently (Friday, 19 July) there was a massive IT outage; card payments weren’t accepted in the supermarket, only cash. Similarly I couldn’t buy petrol as the forecourt systems weren’t working, thankfully I wasn’t stuck somewhere with an empty tank. What is the fallback plan for the business and the customer? Thankfully this outage was human error and fixed quickly, but if it was a malicious attack, what then?
Many people pay their utility bills by cheque at a bank. I know people for whom chatting to a cashier (and engaging with whoever is on the checkout at the supermarket) is an important contribution to their well-being. This engagement is far more than just paying a bill or getting the shopping. If paying bills, the cashier can also check that the details have been completed correctly and there’s a relationship with the customer. This is really important. It’s important for the customer and, you would think, it should be important for the business.
We hear so much about financial scams, particularly involving older people; physical banks are a necessity, for social interaction, support, as well as to get cash and pay bills. I have carried out large transactions on a single visit to a bank, as I believe it’s more secure and I get a receipt. In these situations, I like the transaction to be overseen by an expert and for the bill or papers to be stamped by the cashier as it’s my evidence that it has happened. Would you be comfortable moving money to pay the deposit for a house on your phone? Also remember that daily transaction limits are capped, so there have to be a number of transactions over days which is not always what the receiving business wants.
Banks bring people into the town to engage with businesses, and so helping the local economy. Losing a bank is a bigger loss to the area than just losing a branch and another empty shop as it wipes out a wider network of activity. Where are the much fan-fared banking hubs – where multiple banks share a single site? More technology isn’t the answer. Going online or digital isn’t an option for everyone. Not everyone has or is able to use a smartphone, or perhaps can even afford one. Many are being ignored or left out. And what’s the fallback when the technology fails?
Please use the banks (and all the businesses) we have in town, and think about when you use cash. It will be a problem for many when the ‘proper’ banks are not there.
I find it rather strange, that I can visit ‘my’ local bank, but they can’t give me any of ‘my’ money. This has to be wrong.
What is a bank for?
I like to pay for many things using cash as I don’t like the idea of ‘someone’ being able to track where I go and what I buy, but that’s a whole different article to write.
Opening details and so on correct at time of writing (July 2024).
Havant Civic Society 