If approved, the hub will be open from Monday to Friday offering services such as depositing and money withdrawals
How Portishead’s new banking hub would look(Image: Image: Ridge)
Plans for a new banking hub in Portishead have made significant progress, with a planning application now submitted to North Somerset Council.
The town was confirmed to receive a banking hub in June 2025 following the announcement of NatWest’s impending closure, which would leave the town without any banks.
Operated by Cash Access, the banking hub will be open from 9am to 5pm, Monday to Friday, offering services such as depositing and withdrawing money, balance checks, and utility bill payments.
The banking counter will be managed by the Post Office, whose logo will be displayed on the building’s facade.
However, residents will still need to visit the Costcutter Post Office for stamp purchases and parcel dispatches.
Community bankers from the most popular banks in the area will also be present on a rotational basis, with a different bank represented each day.
The banking hub is set to occupy the vacant former Plaza hairdressers premises, just a short walk from the current NatWest branch, which will remain open until the hub is operational.
The planning application seeks approval for new signage for the banking hub and the installation of an ATM within the shopfront.
In June last year, NatWest announced plans to shut down an extra 55 bank branches, adding to the 53 closures it had already confirmed for 2025.
Major high street banks are reducing the number of bricks-and-mortar branches amid the shift towards online and digital banking.
Somerset closures announced last year included bank branches in Bridgwater, Portishead and Midsomer Norton. Other regional closures confirmed were in Yate in South Gloucestershire and Chippenham in Wiltshire.
A spokesperson from NatWest said at the time: “Over 80 per cent of our active current account holders now use our digital services and over 97 per cent of retail accounts with us are now opened online.”
They added: “Our customers appreciate the speed and convenience of digital banking for everyday transactions, and often, when it comes to making bigger, more complex decisions they value speaking to our skilled and experienced colleagues.
“Like any business, we strive to meet our customers’ changing needs and expectations and we’ve been responding to the industry wide shift towards digital services by investing to broaden what customers can do themselves and to offer them greater personalisation.
“While we are increasingly engaging our customers digitally, our branch network remains important to us. We are also significantly investing in refreshing our network.”
