THE closure of all the main high street banks in Newcastle Emlyn is having a big effect on the availability of cash in the town.

Cllr Cefin Evans raised the issue at a meeting of the town council, where he expressed his worries over the lack of cash machines in the town centre since the closures of both Lloyds in January this year and Barclays at the end of last year.

The only cash machine in town is outside the Premier store and the issue was highlighted during the recent Food Festival.

“With all four major banks turning their backs on the town, there was a huge queue at the one remaining machine during the Food Festival,” he said.

“People were queuing for half an hour to get cash and it’s not just at busy times – it’s all the time and then the machine runs out. I have had a few comments from people and the licensing trade in town about there being no cash about. It’s a great concern about what impact it is having.

“I cannot believe that the banks cannot work together and lease just one building from which they can all work. Where the old Lloyds Bank stand would be ideal.”

Town Mayor Cllr Alan Jones said talks of a community bank could take years for something to come together.

“I have contacted BT, which is currently running a scheme that would convert the old phone kiosk in the town to put in a cash machine,” he said.

“I am still waiting to hear back from them but if they could do something that would be great. It is a big, big concern.”

Ceredigion MP Ben Lake recently met with the Economic Secretary to the Treasury, John Glen, to discuss rural branch closures and make the case for innovative solutions such as community banking hubs.

Those discussions form part of Mr Lake’s efforts to introduce a Bill in Parliament that will ensure that customers, especially in rural areas such as West Wales, are not left without basic financial services when faced with local branch closures.

In 2018, RBS closed NatWest branches in Lampeter and Cardigan. As well as Newcastle Emlyn, Llandysul now has no bank branches and Aberaeron’s last bank branch (Barclays) closed on May 31.