Over the last year or two, there have been a number of bank branch closures in Wyre Forest. Kidderminster is losing the Co-Op branch and Barclays closed in Bewdley last year. In the last week, HSBC has announced that it will close its branch in Bewdley.

The latest Bewdley closure is a big deal: Bewdley will now have no bank branches at all.

We are going through a big cultural change. The high street is transforming immeasurably as a result of the internet. One in four shops across the country is now closed as people shop in new ways and use the high street differently. Bank branches, inevitably, will be changing with the tide of internet services.

Bank branches used to do a whole range of services but over time, with the advent of online banking, using a branch has become more and more infrequent. It is certainly the case that business advisors will need to be close to their customers, but not in every town. It is also the case that one of the commercial advantages of a branch was that it attracted more customers and so was a key element in terms of competition. But now people open accounts more frequently online and the economic case for keeping bank branches open is increasingly tenuous.

But does it matter that a town has no bank branches at all? I think it does. A town like Bewdley has thriving street markets and it is vital that shoppers can get hold of cash to spend on the stalls. It is also vital that traders can get change to make sure they can deal in cash. Finally, it is important that traders can bank their takings without running the risk of carrying large amounts of cash overnight in their premises.

In two or three decades I suspect that we will probably live in a cashless society. This will have come about as a result of people adopting new ways of contactless payments and internet banking that are continuously being created. But for many people this innovation can be threatening and frightening. Modern technology is, for many, hard to keep up with and whilst I can see our society moving towards a bank free, I know that many, many people find this pace of change threatening. That is why I will be lobbying HSBC to change their minds and make sure Bewdley still has a bank.