Plans to establish a much-needed banking hub in Portishead have taken a crucial step forward, with a formal planning application now lodged with North Somerset Council. The move offers a vital lifeline for the town, which is set to be left without any bank branches following the impending closure of its NatWest.
A Direct Response to High Street Bank Retreat
The confirmation that Portishead would receive a banking hub came in June 2025, directly after NatWest announced its decision to shut its local branch. This closure is part of a wider national trend, with NatWest alone confirming the shutdown of 53 branches in 2025, followed by an additional 55. Other Somerset towns like Bridgwater and Midsomer Norton have faced similar losses, alongside Yate in South Gloucestershire and Chippenham in Wiltshire.
Banks cite a massive shift towards digital services, with NatWest stating over 80 per cent of active current account holders now use online banking. "Our customers appreciate the speed and convenience of digital banking for everyday transactions," a spokesperson said, while emphasising continued investment in their remaining network.
How the New Banking Hub Will Operate
If approved, the hub will be operated by Cash Access UK and will open from 9am to 5pm, Monday to Friday. It will provide essential over-the-counter services run by the Post Office, including:
- Cash deposits and withdrawals
- Balance enquiries
- Utility bill payments
The Post Office logo will feature on the building's facade. However, residents will still need to visit the existing Costcutter Post Office for stamps and parcel services.
A key feature will be the rotation of community bankers from the area's most popular banks, with a different provider available each weekday for face-to-face consultations.
Location and Planning Details
The proposed hub is slated to occupy the vacant former Plaza hairdressers premises, situated just a short walk from the current NatWest branch. The NatWest will remain operational until the hub is ready to open its doors.
The submitted planning application primarily seeks permission for new external signage and the installation of a free-to-use ATM within the shop front. This physical presence aims to maintain access to cash and in-person financial services in the heart of the community.
The advancement of the Portishead banking hub represents a critical community-focused solution to the accelerating decline of brick-and-mortar bank branches, ensuring vital financial infrastructure remains accessible for all residents.
