‘Hammer blow’ as two banks to close doors
Rural decision blasted
Community leaders and politicians have hit out after it was revealed that two rural bank branches are to close.
Bank of Scotland intends to shut its outlets in Balfron and Killin, blaming a downturn in the number of transactions in-branch and “changing customer behaviours”.
Customers in Balfron will now face a 25-mile round trip to the Milngavie branch. Those in Killin will have to take on a 42-mile trip to the outlet in Callander.
The closures are among 15 across the country. In addition, 31 Lloyds banks and 10 Halifax branches are also to close.
Instead, Balfron and Killin will both be serviced by a new mobile branch service – but details of this are yet to be confirmed.
Balfron is earmarked for closure on August 17 and Killin on August 26.
A spokesperson for the Bank of Scotland said: “We are committed to having the largest branch network in Scotland, and in addition to our branches, all our customers can use the Post Office to access their banking locally. Our mobile branches also visit many rural communities.
“We have made the difficult decision to close these branches later this year in response to changing customer behaviours and the reduced number of transactions being made in branches. We apologise for any inconvenience this may cause.”
The bank says the counters at the Balfron branch are 21 per cent quieter than a year ago, with Killin’s branch down by 17 per cent. Just 171 Balfron customer used the branch on a monthly basis, with just 35 in Killin.
Balfron Community Council chairman, Colin Cameron says the move will “further erode the health of the rural villages”. He added: “The bank is important to local businesses, farms, voluntary bodies and, in particular, the elderly who may not have access to, or trust in, online banking. It will certainly impact on local organisations such as ours, who rely on a friendly face with the knowledge and expertise to help us when required.
“It would appear to be a corporate decision made by accountants who prize algorithms over community, with no comprehension of the impact the closure will have on a rural area whose local businesses are still cashorientated.”
The community council are to discuss the matter at its February meeting, where it will decide what further course of action it may take.
Myra Patterson, who runs the Capercaillie Restaurant in Killin, described the situation as ‘dire’. She said: “It cuts down the level of flexibility you have. The bank is only opened on a Wednesday and a Friday, but that level of flexibility is better than a mobile bank.
“It depends on when the mobile bank will be here, but it could affect what days I need to do my books and things like that. I do tend to do a lot of banking online, but you can’t pay money in online which is what will impact a lot of the businesses. I will probably use the Post Office more once it closes.”
Forth and Endrick Independent councillor Robert Davies says the closure of the Balfron branch will leave the ward without a single bank. He added: “I suspect there won’t be many wards in Scotland that are in the same position.”
Bank bosses wrote to Stirling SNP MSP, Bruce Crawford, notifying him of the closures. He said: “Folk in Balfron, Killin and the surrounding area will be deeply disappointed in this decision, although it had been threatened for some time. I’m keen to find out more about what level of service local personal and business customers can expect from the mobile branch alternative being offered alongside the local Post Office.”
Stirling MP, Alyn Smith said: “Rural communities in particular are getting fed up of the threat of losing their bank branches.”
Trossachs and Teith Tory Councillor, Martin Earl, said the move spells “bad news” for villagers. He added: “I urge everyone to lobby Bank of Scotland to reconsider this move. Banks have a responsibility to their customers and their communities, something far too many of them have found it convenient to forget in the last few years.”
Mid Scotland and Fife Tory MSP, Dean Lockhart, described the decision as a “hammer blow”.
Accord – a union for staff in financial services with members in the Lloyds Banking Group – said the scale of closures will take some by surprise. In a statement they said: “The overall level of staff reductions expected as a result of the closures is under 80 as many of the staff are expected to be redeployed into other branches. But every branch that closes has an impact.
It isn’t known how many jobs will be lost at the Balfron and Killin branches.
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Will impact on local organisations who rely on a friendly face