Thame lost its final bank branch in February and the town council had been trying to bring a hub to the area.
Banking hubs are shared, high-street spaces where customers can access cash services from the Post Office for any major bank.
As a result, the town was allocated an Automated Deposit Solution machine for cash deposits and note-only withdrawals instead.
READ MORE: Calls for Oxford University student to resign over Charlie Kirk comments
Andy Gilbert, mayor of Thame, said: "Bank branches are closing at a rate of knots in the UK. One in three have closed in the past five years and the UK has one of the highest rates of bank closures in Europe.
"Since our last bank closed here in Thame, and aside from the Post Office, the only other branch option for bank users requiring notes and coins and willing to switch accounts is the Nationwide Building Society, which has premises on the High Street.
"However, it doesn't serve businesses or charities, which are not well provided for within the LINK criteria."
LINK is a the not-for-profit body running the UK's cash machine network on behalf of the major banks, where Thame Town Council appealed the banking hub rejected to.
Within the life of the present government, 350 banking hubs are to be rolled out nationwide.