Maldon Santander to close – new banking hub plans revealed

Closing - Santander says the shift to online banking has led to the closure of branches. (Credit: Ben Shahrabi)

THE LAST bank in the Maldon District will close, with a new banking hub planned to open in its place, Santander has announced.

It comes as the Spanish-owned banking giant has announced closures of 95 branches across the UK, including the one in Maldon High Street.

Around 750 people could lose their jobs nationwide, as Santander says it is transforming its network to “better serve customers’ changing needs”.

The closure has raised concerns among residents, particularly those who rely on in-person banking.

However, the town has also been named as a new location for a banking hub, organised by cash access network LINK.

A hub operates like a traditional banking branch but is shared by multiple banks, with basic counter services provided by Post Office staff.

Maldon MP Sir John Whittingdale expressed his “disappointment” at Santander’s decision, but welcomed the commitment to setting up a banking hub before the branch shuts.

Sir John told Caroline Coastal, "I understand the concern of my constituents about losing the town’s last bank, but I am pleased that Santander has confirmed it will not close until the banking hub is in place."

Disappointed - Maldon MP Sir John Whittingdale. (Credit: Ben Shahrabi)

The MP revealed he plans to meet with the regional manager for Cash Access UK, to ensure the hub “provides the necessary services for the community”.

In a House of Commons debate last month, Gareth Thomas, Minister for Services, Small Business and Exports, said: "Banking hubs are a vital solution to ensure people and businesses in communities like Maldon continue to have access to essential banking services.

"We are committed to rolling out more hubs across the country to support communities facing branch closures."

Santander says the shift to online banking has led to the closure of bank branches across the UK in recent decades.

In a statement, a spokesperson for Santander said: “To support the changes, Santander will be proactively contacting all potentially vulnerable customers by phone and will assist those customers of closing branches to find other ways to bank that best suit their needs.”