A banking hub could be coming to Wokingham after multiple high street branches closed their doors in recent years.

Businesses, residents and councillors alike are calling for a banking hub, which offers basic services and access to cash for a variety of branches, to be installed in the town as 81 have cropped up around the country.

Banks including Nat West, Barclays and Lloyds TSB have all closed their Wokingham branches in recent years.

Rising cost of upkeeping offices and people using online banking, paired with lower cash use across Britain, have contributed to the closures.

But a previous application for a hub by Wokingham Borough Council failed in 2023, as provider Link said that there were enough bank services already available in the town.

Now, the rules applied by Link, have changed – a hub can open even if there is another operator in town.

A second application has now been sent to Link by former Town Mayor for Wokingham, Lynn Forbes.

The MP for Wokingham, Clive Jones, who also led the council, said that he was ‘hopeful’ it would come to fruition after speaking with representatives with Link at the Liberal Democrat Conference in Brighton.

Mr Jones told the News: “I’m actually quite hopeful. I’m very pleased that Lynn Forbes put together another application and from the discussions that I’ve had with Link, there may well be a change of heart.”

The Liberal Democrat said that it was something frequently brought up by elderly residents who may not use online banking, and that it would be a positive addition as it ‘brings people into the town’.

Nick Quin from Link told the News: “New rules are in place from the 18th  of September, and Link is looking at whether Wokingham would meet the requirements for a banking hub under those rules.

“We’ll be visiting soon as part of that process, to understand as much as we can about what people need locally.”

A meeting with the council, applicant Lynn Forbes and MP Clive Jones will take place on Wednesday, September 25.

Mr Quin added that Link looks at ‘a whole range of factors’ in deciding whether a banking hub is needed in a particular area.

This includes how many people rely on it, how many shops there are, and how many people have to travel to alternatives.

Clive Jones MP said that he was having a further meeting with Link in October, where he would ‘keep up the pressure’.