Scots hit hard by bank and ATM closures
BY KATRINE BUSSEY reporters@dailyrecord.co.uk SCOTS could face an “uphill battle” to access their cash – due to the “alarming” number of bank and ATM closures.
Research by consumer organisation Which? found 339 bank branches in Scotland have closed their doors since 2015, making the country one of the worst-affected parts of the UK.
In addition, 290 cash machines have been withdrawn in the last year – 204 of which were free to use.
Which? is now calling on the UK Government to appoint a regulator to protect access to cash.
Jenni Allen, managing director of Which? Money, said: “We have serious concerns that the alarming rate of cashpoint and bank branch closures risks leaving people in Scotland facing an uphill battle to access the cash they rely on.”
Banks say consumers are increasingly using contactless technology.
But Allen argued cash is still a “vital back-up as fallible digital payments grow in popularity”.
In Scotland, withdrawals from cash machines were down just 3.3 per cent in 2017-18, compared to larger drops of 8.5 per cent and 7.7 per cent in London and the south-east of England respectively.
Allen said: “The UK Government must appoint a regulator to oversee these changes and ensure no one is excluded and left struggling to go about their daily lives.”