NEW analysis from Which? reveals more than a third of Scotland’s bank branches closed in just four and a half years, with many of those that remain are now offering limited opening times for customers already struggling from reduced bank access.
Investigating the bank branch network in Scotland between January 2015 and August 2019, the consumer champion found that a staggering 396 branches (38%) shut down as banks continued to close branches at an alarming rate – reducing the overall branch network from 1039 to just 643.
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For the first time, Which? has investigated bank opening hours and found that Scottish customers already struggling with a devastated branch network can also now face severely curtailed opening times.
The findings reveal that 11 branches open just one day a week, while 31 are open for just two.
Overall, almost one in seven (14% and 87 branches) only open three days a week or less.
The service review company found that RBS had closed 74% of its bank branches across the UK during this period – with the majority in Scotland, where 158 branches closed (63% of its Scottish network).
Meanwhile, Bank of Scotland closed 94 branches, equivalent to 32% of its network. This was followed by Clydesdale (59 closed, 47%), TSB (39 closed, 21%) and Santander (36 closed, 44%).
Jenny Ross, Which? money editor, 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 and that when banks shut their doors, they don’t shut their customers out of important banking services.”
According to UK Finance, 70% of the adult population used online banking in 2018.
In some areas, banks offer “mobile branches,” which provide a range of everyday financial services but they simply do not offer the same convenience of access as a bank branch.
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