17 Jun 2023
Harpenden will be bankless by the autumn, but what does that mean for the town? Laura Bill finds out more…
Shopping in Harpenden is going through a state of flux, with the imminent closure of yet another bank – this time HSBC – and the announcement that the town’s branch of Barclays will shut in September.
Customers and retailers alike have been asking what effect the changes might have on the overall shopping experience locally, and what the future will look like for the town, so I visited on a sunny June morning to find out more.
Harpenden High Street, perhaps to a greater degree than St Albans, has a uniquely independent feel and as the sun shone on the green it almost felt like being on holiday. It’s been some time since I visited the town, and I wanted to see what was different.
I soon noticed that the beautiful array of tempting cakes and bread was no longer to be found where Parker and Vine traded, and my heart sinks further as Coppers Shoes stands vacant and gathering dust. I also learn that home interiors shop Map Stores will also be closing soon due to rent increases.
Rumours suggest that one landlord, who is not local to Hertfordshire, has hiked up the prices for his tenants, forcing many to close down or seek alternative premises.
But what of the loss of the town’s banks?
Harpenden MP Bim Afolami has been outspoken about the situation: “I understand that the news of Barclays’ closure will cause a great deal of concern for Harpenden residents.
“Bank branches are a key service on our High Street – particularly for older and more vulnerable residents – and to be left without any High Street banks in a town the size of Harpenden is unacceptable.”
Mary Durkin, the owner of high-end gift shop Serena Hart, said: “Harpenden is moving towards a more independent shopping experience, which is great, but I worry that when the banks close people who budget by using cash or people who do not have a bank account might not come here to shop anymore.”
Mary thinks some of the town’s landlords should be more realistic about rent, but stressed that hers was not among them: “Compared to other areas, we have had relatively few closures and the properties do not stay vacant for long.”
When I visit Threads it is busy with customers, but owner Lara Wares found time to speak to me about how the banks closures will impact them: “Anything that brings people into town is good for businesses and if people have to go elsewhere for their in-person banking needs then they will be shopping and having coffee somewhere else.
“I really don’t like the way that older people who aren’t au-fait with technology and the internet are being frozen out of society. Hopefully the empty properties will be filled with new independents that will add their own value to the High Street.”
Ron Taylor of the Harpendia website added: “If shop closures continue at the current rate the Harpenden High Street will lose its undoubted charm and shopping destination potential. Will landlords be forced to rethink squeezing tenants with ever higher rents or will hospitality fill the gaps?
“Or will the local councils reduce their property conservation demands and allow a more dynamic generation of businesses to open in town? One sector that doesn’t seem to be affected are charity shops. Walk past any one and you’ll see plenty of shoppers looking through fully stocked shelves.
Time maybe for the town council to relaunch its ‘Shop Local’ strategy?”
A spokesperson for Barclays explained why their Harpenden branch was closing: “Our customers’ behaviour has changed significantly in recent years, with the majority now choosing online banking. This is reflected at the Harpenden branch and as we adapt, we are finding new ways to support our customers by maintaining our community presence with options for customers who still require in-person support.”
“In Harpenden we plan to open a Barclays Local – a pop-up cashless banking site where customers can meet a colleague face-to-face for banking support, as they would in a branch and without the need to travel. We are currently working with the local community to identify a suitable location and will announce details once confirmed.”
Former senior manager of NatWest Derek French, who once led the Campaign for Community Banking Services, said Barclays would only be providing a deposit service because Nationwide Building Society remains in the town. This means that for those people willing to transfer, a current account banking service still exists in Harpenden.
He said: “Whatever substitutes the banking industry comes up with, the town’s retail footfall will suffer. It is a proven fact that when bank customers are compelled to travel to another town – Welwyn Garden City, St Albans or Luton in our case – even if it is only for the occasional ‘face to face’ need they will not just travel for the banking requirement but will shop in the other town for a variety of goods.
“Where Banking Hubs have been established there is undisputable proof that much of this retail turnover can and does return. In Harpenden’s case it will particularly suit Redbourn and Wheathampstead residents and businesses to avoid Harpenden in favour of the alternative.
“Additionally those businesses still offering the much sought option of payment by cash will necessarily move to ‘card only’ as they will have nowhere convenient to pay in cash and get change: post office services are very limited and lack privacy.”
He said an extensive survey conducted by Harpenden Town Council to back its application for a Banking Hub revealed overwhelming need and support.
“I am very familiar with Barclays ‘pop-up’ advice-only initiatives, one of which is promised for Harpenden, which are an attempt to get them off the hook with their Access to Banking Standard obligations.
“It will service some needs of less than 20 per cent of the town’s bank customers, and no permanence is guaranteed.
“NatWest abandoned its similar initiative – following the closure of its Harpenden branch in May 2018 – upstairs in the library after six months due to a lack of usage and inability to carry out transactional business. Harpenden needs a full Banking Hub in a visible High Street location to counter serve customers of all the main banks every day with the equivalent of the Barclays pop-up on its allocated regular scheduled day of attendance.”
