The closing date of one of the last banks in a town centre has been pushed back.

The TSB branch in Sheerness High Street was set to shut today but could remain open for the next 12 months.

New regulations from LINK, the UK’s cash access network, meant the bank was required to remain open until new services were in place.

It follows the announcement that the town has been recommended for a banking hub.

TSB has confirmed that the Sheppey branch will remain open until this new banking hub is “deployed”.

Without the hub and TSB the Island’s 40,000 residents would have been left with just Nationwide for banking services.

In response to the news, TSB customer and Sheerness resident Gerry Cunningham started a petition that gathered more than 5,000 signatures, urging the bank to rethink the move in May.

But now access to essential services such as cash deposits, withdrawals, and bill payments will remain in place over the next year.

The 65-year-old told KentOnline that he welcomed the news after he feared Sheerness would become a “ghost town”.

He said: “It’s a good thing that we will continue to have a service in the town, particularly for the older generation.

“It’ll be interesting to see where the bank will be and when it will be open.”

Meanwhile, Cllr Dolley Wooster (Lab) who represents Sheerness on Swale council said TSB’s decision was “reassuring”.

She added: “It’s good news that there will be no break in services for people in the area.

“We have lost a number of banks in the High Street so I am grateful that LINK will be bringing the banking hub here as well as for Nationwide who are staying.

“Businesses that want to remain cash-only were concerned about to the closure of the TSB but the news should come as a reassurance.”

A TSB Spokesman said: “Under new regulations, LINK has carried out an assessment to determine whether any additional cash services will be required in the community following the closure.

“The assessment has concluded that a banking hub be deployed in Sheerness.

“These regulations require banks to keep facilities open until additional cash services are available so our branch will remain open until that is in place next year.”