Graham has welcomed a major breakthrough after Lloyds Banking Group agreed to seek the restoration of cheque deposit services at Post Office branches and Banking Hubs until the end of 2030.
The move follows a campaign led by Graham after residents in Beverley and Holderness told him Lloyds customers could no longer deposit cheques locally.
Graham raised the issue in Parliament and coordinated a cross-party letter to Lloyds Banking Group Chief Executive Charlie Nunn, signed by 121 MPs from across the House of Commons.
In its response, Lloyds said it had “reflected” on feedback from customers and MPs and had asked the Post Office to accept cheque deposits into Lloyds accounts in Post Offices and Banking Hubs until the end of 2030.
The change is subject to the Post Office agreeing acceptable commercial terms with Lloyds.
Graham said the decision shows that residents were right to speak up and that Lloyds must now work with the Post Office to get the agreement signed.
The campaign began after residents told Graham that Banking Hubs in Hornsea, Withernsea and Hedon were working well and valued locally, but that Lloyds customers were still unable to deposit cheques at Post Offices, cash hubs and Banking Hubs.
Graham’s local banking services survey received 156 responses, including 154 from Beverley and Holderness.
The survey found that 99 respondents had used either the Withernsea Banking Hub or Hedon Cash Hub, showing that residents value and use the replacement services.
But 23 respondents said they had been unable to withdraw cash locally, while 22 said they had been unable to deposit a cheque locally. Lloyds was the most commonly named bank, with 85 respondents naming Lloyds as their bank or one of their banks.
In its letter, Lloyds said it understood that for some customers, “particularly those who are older or vulnerable”, familiarity and reassurance remain important.
It also said the decision to extend cheque deposits for a transition period until 2030 would ensure that those who may need more time are supported.
Graham’s cross-party letter was signed by MPs from across Parliament, including Mel Stride, the Shadow Chancellor, Daisy Cooper, the Liberal Democrat Treasury spokesperson, Adrian Ramsay, Green MP and former Green Party co-leader, former Labour leader Jeremy Corbyn, senior Labour backbencher Graham Stringer, Dave Doogan MP for the SNP and Liz Saville Roberts MP for Plaid Cymru.
Government ministers are unable to sign such letters, but several wrote to Lloyds in a personal capacity to raise the issue.
Graham said: “This is a real win for residents who spoke up and told me Lloyds was letting them down.
“The Banking Hubs in Hornsea, Withernsea and Hedon are fantastic. People value them, and they are helping to keep local banking alive after the last bank branches closed.
“But Lloyds customers were still being told they could not deposit cheques at Post Offices and Banking Hubs, even though other major banks allowed it.
“That was not fair, especially for older residents, disabled people, small businesses, charities and community groups who still use cheques.
“So I raised it in Parliament and coordinated a letter signed by 121 MPs from across the House of Commons.
“Lloyds has now changed course. That is welcome.
“But the job is not finished. Lloyds and the Post Office now need to get the agreement signed so customers can deposit cheques locally again.
“This campaign started because residents raised the alarm. It shows what can happen when people speak up, Graham listens, and MPs work together to get a practical result.”
