New £1.2m Fund Launched To Improve Access To Banking In Whitby And Filey

A new funding programme offering grants of up to £400,000 has been launched to reintroduce and enhance physical banking services in rural communities including Whitby and Filey.

Communities on the Yorkshire Coast are being invited to apply for a new fund aimed at improving access to banking services and supporting the long-term future of local high streets.

The programme will support projects that reintroduce or enhance access to cash and banking services in towns where traditional bank branches have closed or become less accessible.

Whitby and Filey have been identified as priority locations for the scheme, which has approximately £1.2 million available in total. Individual grants ranging between £30,000 and £400,000 will be awarded to successful applicants.

As more banking services move online, residents and businesses are finding it increasingly difficult to access the essential financial services they rely on. The York and North Yorkshire Combined Authority stated that this challenge is particularly evident in rural areas and market towns, where people are often required to travel further to withdraw cash, make deposits, or access face-to-face support.

The Mayor of York and North Yorkshire, David Skaith, said:

"Having access to banking services is still incredibly important for many people, businesses and communities across York and North Yorkshire."

"The continued closure of bank branches has left many residents with fewer options for managing their finances, while local businesses still need access to face-to-face banking services to operate effectively."

"Keeping these services available isn't just about banking – it's about supporting local businesses, helping our high streets succeed, and making sure our communities can continue to thrive."

The withdrawal of banks from the high street is having a major impact on small independent businesses that continue to rely on cash transactions and regular deposits. Reduced access to in-person services risks increasing financial exclusion and undermining community resilience, while also reducing high street footfall.

Ali Hussain, owner of the newly opened The Treasury Whitby, said:

"I think the closure of high street banks is hugely regrettable and, for rural towns like Whitby, extremely inconvenient. A simple banking trip can take up to three hours, costing valuable time and increasing environmental impact."

"I understand and welcome technology playing its part; however, day-to-day banking inefficiencies and the loss of personal relationships, including not knowing your bank manager, are a concern."

"Ironically, in the past twelve months I have had numerous conversations about how important a bank was, particularly in Whitby, to the community. It was a place that shaped people’s futures, where they could interact with another human being, and where life-changing moments occurred. Many took out their first mortgage there or went with their parents to act as guarantors for car loans that enabled them to commute to work. Decisions were often based on personal relationships."

The fund will support proposals that improve access to cash withdrawals and deposits, business banking services, and everyday account management. The combined authority encourages applications that also provide wider community benefits, such as financial wellbeing support, business engagement activities, and community partnerships.

While the focus on the coast highlights Whitby and Filey, the programme is also targeted at other rural locations across the region where evidence shows the greatest need.

Fiona Whittet, a councillor and financial adviser in Bentham, said:

"Previously we had a bank on the High Street. It was a real hub for the community, and we lost that some time ago. While our Post Office does a brilliant job supporting the community with services like cash withdrawals, deposits and bill payments, there’s so much more that’s needed."

"We have quite an ageing demographic in Bentham, and for many people it’s difficult to access branches in places like Skipton or Lancaster due to limited public transport, often relying on family members to get there. People are also looking for guidance and advice on their accounts, savings and mortgages, and that’s been a real struggle."

Applications from individual organisations and partnerships are welcome, with collaboration between financial service providers and community organisations strongly encouraged. Projects can be capital or revenue-based, or a mixture of both, and must commit to a three-year initial period of operation to demonstrate long-term sustainability.

The grant programme officially launched on the 22nd of June 2026, and applications will close on the 30th of September 2026.