Farnham and Bordon MP Gregory Stafford has welcomed Nationwide’s decision to keep its Farnham branch open until 2030, calling it “excellent news for local customers and small businesses.”

But he says the move must not stall progress towards a long-term solution for in-person banking in the town.

Mr Stafford said Nationwide’s pledge is a “real vote of confidence” in Farnham and will help protect face-to-face services in the short term. But under access-to-cash rules, the presence of a Nationwide branch and a Post Office means Farnham cannot qualify for a shared Banking Hub, leaving no guarantee of future provision if circumstances change.

“This is genuinely welcome news and I applaud Nationwide for showing leadership where others have walked away,” Mr Stafford said.

“But it doesn’t fix the underlying problem. The rules mean that Farnham is effectively frozen out of the Banking Hub scheme. If either the Post Office or the last bank were to close, we’d have to start from scratch – and that’s not good enough for residents or local traders.”

He has written to the Treasury urging ministers to work with LINK, the UK’s cash access network, to update the criteria so communities like Farnham can plan ahead instead of waiting for further closures.

In his letter, Mr Stafford called for “common-sense reform” to ensure towns with shrinking banking options are not left behind.

“Nationwide’s commitment gives us breathing space – but it should be used wisely,” he added. “We need to make sure the system keeps pace with reality. I’ll keep pressing the Treasury and LINK to make sure Farnham isn’t forgotten.”

Mr Stafford is also seeking meetings with LINK and Treasury officials to discuss how the Government’s Future of the Post Office green paper can better protect access to in-person banking.

The call for a banking hub, which would be similar to the one set up at The Shed in Bordon, follows the closure of Farnham’s Santander and Barclays branches earlier this year.