Edinburgh North and Leith MP Deidre Brock is leading a debate at Westminster this afternoon (Tuesday) on bank branch closures, after recent announcements from both RBS and TSB that their branches in Leith are set to close.
Ms Brock called for the debate after RBS announced last month that a further 18 of its 86 branches are set to close, including Leith. The MP will call for more robust action from government to protect access to bank branches and to increase the roll out of initiatives like banking hubs.
Ms Brock has written to the banks and is meeting with representatives of both RBS and TSB to discuss the proposed local closures in Leith.
Deidre Brock said:- “We have seen almost 6000 bank branches close across the UK since 2015 at a rate of 54 each month. Enough is enough. If banks keep shutting up shop at this pace we will deepen the digital divide and leave many people without access to the financial services they need.
“It’s hard to believe Leith could soon be down to its last branch standing. As one of the most densely populated parts of Scotland, there’s a continued need for accessible services for the many small businesses and customers in the area who don’t use digital.
“RBS was founded in Edinburgh in 1727 and paved the way for much modern banking so it’s sad to see them cut back to just three city centre branches. The success of Edinburgh’s financial sector was largely built on Scotland’s famous multi-bank system which gave stability and security in the sector. While times have changed, the increased centralisation of banking doesn’t seem like progress to me.
“Banks should still have a responsibility to the community and the customers they serve. The UK government needs to step in and take stronger action to protect our bank branches before they disappear altogether.
“We should introduce a community right to bank branches and incentives to roll out initiatives that help banks cut the costs while keeping face to face services, like banking hubs.
“The RBS website proudly claims “the bank has a history of making life easier for its customers. The bank is committed to serving Scottish communities and putting the interests of customers first.”
“It’s time for that commitment to be made clear in actions, not just warm words.”
