18 Dec Restoring Banking Services in St Neots
What 633 Local People Told Us and What We Plan to Do Next
Over the past six weeks, St Neots Initiative asked residents and businesses a simple question: What has the loss of local banking services meant for you and what do you need instead?
The response was overwhelming.
633 people took the time to complete our survey. This wasn’t a niche issue. It cut across age, gender, business type and neighbourhoods. The message was clear: the closure of banks has left a real gap in daily life, business activity and access to support in St Neots.
This page sets out what we heard and how we intend to respond.
Who Responded and Why This Matters
The strongest response came from residents aged 46 and over, with particularly high engagement from those aged 56–65 and 66+. This reflects a group most affected by the loss of face-to-face banking and cash access, but importantly, younger residents and working-age adults also responded in significant numbers. Digital exclusion and a significant lack of digital literacy available to the community in the area have meant that the sudden transition to online services has had a profound impact on how this has been felt within the community.
Nearly 70 percent of respondents were women. We were not massively surprised by this. At our Citizen Gatherings, there is a more prominent voice in the discussions around financial services and financial literacy.
Over 600 respondents identified as local residents, alongside business owners, managers and workers. This is not just a personal inconvenience issue. It is an economic one.
Key Insight: Banking is not a fringe service. It underpins daily life, local trade and confidence in the town centre.
What Services People are Missing Most
The most commonly requested services were:
Free to use cash withdrawal services for personal accounts
Free to use cash deposit services for personal accounts
Cash deposit services for business accounts
Business-related cash services featured strongly in the comments, highlighting the impact on traders, hospitality and service businesses that still rely on cash handling.
Repeated message from responses: “It’s not one thing. It’s the loss of everything in one place.”
What People Want Beyond Cash Machines
The most requested additional features were:
The ability to deposit and withdraw notes and coins
Having a trained person available to help with cash access services
Support moving money between accounts
This is critical. The data shows that people are not just asking for machines. They are asking for human support, confidence and guidance.
Common sentiment from responses:
“I miss being able to speak to someone face to face.”
“Online doesn’t work for everything.”
“Not everyone can manage banking digitally.”
The Post Office is Not Filling the Gap
Nearly 75% of respondents live within two miles of a Post Office, yet proximity does not equal adequacy.
The majority of respondents said the Post Office does not meet their banking needs.
The Most Common Other Reasons Given Were:
Limited services
Restricted opening hours
Lack of staff knowledge or privacy
Long queues and delays
Direct Themes From Free Text Responses:
“It’s not designed for banking.”
“No privacy.”
“Staff can’t help with anything complex.”
“Businesses can’t rely on it.”
Strong Demand For Advice and Support
Over 72 percent of respondents said they would use a regular in-town banking advisor service if it were available.
Nearly half said they would be interested in free financial or debt advice on the high street.
This is a critical finding. It shows a clear demand for a model that combines banking access with advice, guidance and support.
What People Told Us in Their Own Words
Across hundreds of free text responses, the same messages appeared again and again:
On distance and access
“I now have to travel to Huntingdon.”
“It’s difficult if you don’t drive.”
“It’s not realistic for elderly people.”
On dignity and confidence
“I don’t feel comfortable discussing finances online.”
“I miss the reassurance of speaking to someone.”
“Not everyone understands apps and passwords.”
On businesses
“Cash handling is harder and more expensive.”
“Depositing takings takes hours now.”
“It’s hurting small traders.”
On frustration
“We’ve been forgotten.”
“Everything has been centralised away from towns like ours.”
“It feels like decisions are made without understanding the impact.”
What This Means for St Neots
This data gives us confidence to conclude the following:
There is a clear and evidenced need for local banking services
Cash access alone is not enough
Human support, advice and inclusion matter
The Post Office is not a substitute for a proper dedicated solution
The issue affects residents, businesses and the wider town economy
Our Intention
St Neots Initiative will now move forward to:
Build the case for a community-driven banking hub
Explore partnerships with banks, building societies and financial service providers
Investigate a Finance and Digital Inclusion Hub model that combines:
Cash access
Banking advice
Business support
Financial and debt advice
Work with local authorities to align this with wider economic and inclusion strategies
Engage landlords and investors on using high street space for active community value
“This is not about nostalgia. It is about resilience, inclusion and a town centre that works for people and businesses today.” – Richard Shaw MBE, Chair of St Neots Initiative
Thank you
To the 633 people who responded, thank you. Equally, thanks to the endlessly kind volunteers and partners who made distributing this so effectively smooth.
Your voices give this work legitimacy, urgency and direction.
We will continue to share updates as we build partnerships and explore what is possible for St Neots.
If you would like to be involved or want to discuss partnership opportunities, please contact us on secretary@stneotsinitiative.org.uk
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