Fresh review of Stokesley banking services underway

A fresh review of cash and banking access in Stokesley is now underway.

The reassessment has been confirmed by LINK, the organisation responsible for deciding where new banking hubs should be introduced, to Richmond and Northallerton MP Rishi Sunak

Concerns about access to banking services in the town first emerged after the closure of Stokesley’s final bank branch last summer. The move prompted worries among residents and North Yorkshire Council about the long-term availability of essential financial services.

While nearby Richmond successfully secured a banking hub in 2024, an earlier review determined that Stokesley did not meet the necessary criteria.

Mr Sunak subsequently challenged that decision, writing to LINK to question the data used in its assessment. He highlighted similarities between the two towns, including their rural nature, distances to alternative banking facilities, and travel times for residents.

He also raised concerns about the population figures used in the review and called for greater transparency in how decisions are made.

Following LINK’s initial response, Mr Sunak continued to press the issue, warning about the impact of declining access to free-to-use and 24-hour cash machines. He also pointed to the cumulative effect of bank closures on Stokesley’s high street and wider local economy.

Arguing that circumstances in the town had materially changed, Mr Sunak formally requested a fresh assessment.

LINK has now confirmed that a full review is underway. The process will examine current cash access needs in Stokesley and consider whether additional services, such as a banking hub, are required.

Mr Sunak said access to cash and in-person banking services remains vital, particularly in rural communities.

“I have consistently raised concerns about the original decision and continued to press for a reassessment as circumstances in the town have changed,” he said.

“I am pleased that a fresh review is now underway, and I will continue to press for the outcome that the community needs.”