Loss of ATMs and bank closures spark fears

People who rely on face to face bank services are in danger of being "being cut adrift" by the loss of freeto-use cash machines and branch closures, a consumer watchdog claims.

Which? says nearly a quarter of free-to-use ATMs have vanished since 2018 and almost half of bank branches have been earmarked for closure since 2015.

The Government has previously said it will legislate to protect the future of cash, and Which? is calling for this to happen in the Queen's speech next month.

The consumer champion has also sent a letter to the Treasury warning that being unable to withdraw cash could have a “significant” effect on many people day-today lives

The letter says: "Unless legislation is introduced urgently, the ability to access, spend and deposit cash could be permanently lost for many consumers, leaving some of society's most disadvantaged at risk of financial exclusion with no way to pay for the goods and services they need in their daily lives."

The letter is also backed by Age UK, Fairer Finance, the British Retail Consortium, Step Change Debt Charity and the Federation of Small Businesses.

Which? says that, since 2015, 4,685 bank branches have shut their doors, with a further 226 already scheduled to close – equating to nearly half the network. It says 12,178 free-to-use ATMs have been cut since 2018.

Jenny Ross, Which? money editor, said: "Though banking industry proposals for action are welcome, what's needed most is the legislation promised by the Government to protect access to cash.”