Take a walk through Brecon as little as three years ago and there were half a dozen or so bank branches dotted around town, their cash machines and counters part of the everyday rhythm of the high street.

Today, just one remains.

NatWest is now the last bank operating in Brecon after a wave of closures that saw Lloyds shut its branch in February last year, Santander leave in June, and both HSBC and Barclays close in 2023. For residents and businesses who rely on cash and face-to-face banking, the change has been stark.

The situation in Brecon has been thrown into sharper focus recently following the opening of a new shared banking hub in Ystradgynlais - a move welcomed by Welsh Government ministers as a lifeline for communities left without a bank of their own.

The Cabinet Secretary for Social Justice, Jane Hutt, and the Cabinet Secretary for Finance and Welsh Language, Mark Drakeford, visited the Ystradgynlais hub recently, which has brought banking services back to the town centre after the last bank, Lloyds, closed in September 2023. The hub is located at 14 Commercial Street, the site of the former Lloyds branch.

The opening comes following a long campaign by the Welsh Liberal Democrats.

At the hub, customers can access a staffed counter run by Post Office employees to deposit and withdraw cash, pay in cheques and carry out everyday transactions. Appointments can also be booked with representatives from individual banks for more complex support, allowing customers to speak to their own bank in person once again.

Ystradgynlais was identified as a suitable location by LINK, the organisation responsible for assessing communities for banking hubs, following this local campaign. The town has a high number of cash-reliant retailers, alongside a significant number of older residents and people who do not use digital banking services.

Ystradgynlais Shared Banking Hub operator Manjit Sanghera said the return of banking services had been warmly received.

“What really delights me is when I see the joy on the face of so many local customers as they walk into this branch for the first time," he said. "I quickly realised how pleased our customers are to have got their banking services back in their local town centre.”

Around five million people across the UK still rely on cash every day, with banking hubs intended to support those customers while also helping to sustain town centres and small businesses.

There are now 12 shared banking hubs - a UK Government initiative - open across Wales, with three more in development.

Jane Hutt said: “Everyone is concerned about the cost of living and wants access to financial support and advice.

"Facilities like this are crucial in our communities. We are not a cashless society, and access to face-to-face services is vital for people’s health, wellbeing and financial security.”

For Brecon, current rules mean a shared banking hub cannot be considered while one bank branch remains open, even as the town has watched bank after bank disappear from the high street.