High street banks have closed more than 1,000 branches in the last two years, new research from consumer organisation Which? has revealed. Ninety of these are in Scotland – and Scotland-based giants Bank of Scotland (34) and RBS (31) have shut most branches.
Banks cite the increasing popularity of online banking and competition from new banking services like the Post Office as reasosns for the closures, but cost-cutting – including staff – is also undoubtedly a factor.
Which? found a total of 1,046 branches were shut between January 2015 and January 2017. rural areas among the worst affected. The regions with the most closures are Wales, Scotland and south-west England.
The analysis from the consumer organisation Which? does not take into account the nine RBS branches that will close next year in a move announced earlier this month. Among these is the Davidsons Mains branch which will close next June, leaving customers with a lengthy trek to Corstorphine or Stockbridge if they prefer face-to-face other than internet banking. The bank’s Goldenacre branch closed last year.
According to government figures 56% of the population now use online banking, but as Which? points out that still leaves 20 million customers who haven’t used internet banking for a variety of reasons and who still rely on visiting a branch.
Peter Vicary-Smith, Which? chief executive officer, said: “Access to the services necessary to make everyday banking possible should be simple and straightforward. We’ve seen some good examples of banks acting responsibly and in the interest of local communities when they close branches. However banks can and must do a better job of working with their customers to understand their needs and those of a local community, especially when they are making changes to the services they offer or closing branches.”
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