One in seven Scots banks see operating times slashed

ONE in seven bank branches in Scotland now opens only three days a week or fewer.

Nearly 100 have cut their operating hours, in addition to hundreds of branches that have shut down entirely.

According to a report by consumer group Which?, the total number of branches in Scotland slumped by 38 per cent, from 1,039 to 643, between January 2015 and August 2019. Of those that remain, 87 – or 13.5 per cent – open only three days a week or fewer.

This includes 11 which are available to the public only one day a week and 31 that open their doors on only two days a week.

Jenny Ross, money editor at Which?, said: ‘Banks are closing their branches at an alarming rate in Scotland, which risks shutting many people out of vital financial services and their ability to access their own cash.

‘Bank branches play a crucial role within communities, serving consumers and businesses alike. The industry must ensure no one is left behind by the digital transition.’

Public Finance Minister Kate Forbes called the report ‘deeply concerning’.

She said: ‘Banks must take into account the needs of all customers, which is why we will continue to press regulators, banking providers and the UK Government to ensure local banking services, and in particular access to cash services, remain accessible to all.’

RBS closed the highest number of banks in Scotland, with 158 branches – 63 per cent of its total number – shutting during the past four-anda-half years.

It was followed by Bank of Scotland, which closed 94 branches, or 32 per cent; Clydesdale, which shut 59 branches, or 47 per cent; TSB closed 39, or 21 per cent; while 36 Santander branches shut, 44 per cent of its total.

The closures come amid a rise in online banking. But it is estimated that nearly a third of Scots do not use these servtion

‘Older people left behind’

ices. Brian Sloan, of campaign group Age Scotland, said: ‘Bank branches have been disappearing from Scottish high streets at a rate of knots, leaving many communities and customers without access to a valuable face-to-face service.

‘Many older people face particular challenges when it comes to managing their money and the half a million people in Scotland over the age of 60 who do not use the internet are being left behind with the move to digital by default banking.

‘Coupled with the considerable reduction of cash machines, it is becoming harder and harder for older people to bank in the way that works for them.’

The worst affected areas, by Westminster constituency, were Edinburgh East, which lost 11 branches, 61 per cent of its network; Moray, which lost 59 per cent; Edinburgh South West and Paisley and Renfrewshire North, which both lost 57 per cent, while Linlithgow and East Falkirk saw 56 per cent close.

Mike Cherry, of the Federaof Small Businesses, said: ‘If branches keep closing at a rate of knots, there could well be many high streets and town centres that end up damaged beyond repair.’

Banking trade body UK Finance said decisions to close branches ‘are never taken lightly’. A spokesman added: ‘Consumers are increasingly choosing new ways to help them with their banking but technology is not for everyone and maintaining access to cash is vital to ensure no one is left behind.

‘Customers are now able to access banking services at 11,500 Post Offices across the country, while banks continue to invest in the existing ATM network and services such as mobile branches to reach more rural communities.’