SCOTLAND has the "best" access to bank branches anywhere in the UK, according to new research released by consumer watchdog Which?.
The research also found that more than 6000 bank branches had closed down since 2015, three-fifths (62%) of the UK's total banking network.
Scotland was found to contain 6.9 branches per 100,000 people with Which? noting that the uneven spread of the country's population meant that those living in more rural areas still faced challenges with access.
Yorkshire and the Humber was found to be the British region with the worst access at just 4.4 branches per 100,000 people.
Major banks commit to new hubs amid declining branch numbers across the UK
This comes after new rules overseen by the Financial Conduct Authority (FCA) came into effect last week.
These rules mean that banks will now have to give more consideration to a local community's cash needs before deciding to axe a bank branch.
Major banks have also recently committed to opening 350 banking hubs across the UK by 2029, seeing providers share facilities.
Sam Richardson, deputy editor of Which? Money, said: “Bank branch closures can have severe impacts on local communities, including on those who still want to use cash. New rules to protect free access to cash have been hard won and should make banks think twice about shutting branches without adequate replacements.
“While Yorkshire and the Humber may hold the dubious record for the worst branch access, this is a nationwide problem. Banking hubs will play a key role in replacing shuttered branches, but their rollout remains far too slow for consumers to feel their benefits.
“The Government must hold banks’ feet to the fire to ensure the commitments they’ve made to set up 350 hubs by 2029 are met – and should be prepared to review the target upwards if necessary.”
A UK Finance spokesperson said: “The banking industry is committed to ensuring there is continued access to cash for those who need it. With fewer people visiting bank branches on a regular basis, firms have to make difficult decisions about maintaining their branches.
“Significant ongoing investment is being made to deliver this commitment, including shared banking hubs, which are being opened around the country with many opened across Yorkshire already.
“There is also the option to do a lot of day-to-day banking at Post Office branches across the country. If you are concerned about your local bank branch closing, please contact them and they will help you find the best alternative for your needs.”
The areas with the best and worst access to bank branches in the UK
These are the nations and regions, including Scotland, with the best and worst access to bank branches in the UK:
- Scotland, 377, 6.9
- West Midlands, 364, 6.0
- Wales, 188, 5.9
- Northern Ireland, 110, 5.8
- South West, 324, 5.6
- South East, 520, 5.5
- London, 481, 5.4
- North East, 142, 5.2
- East of England, 328, 5.1
- North West, 384, 5.1
- East Midlands, 229, 4.6
- Yorkshire and the Humber, 248, 4.4
The 30 UK constituencies without a bank branch
These are the 30 constituencies without a bank branch:
- Barnsley South
- Bolton West
- Bradford South
- Central Suffolk and North Ipswich
- Chatham and Aylesford
- Chester South and Eddisbury
- Colne Valley
- Dagenham and Rainham
- Doncaster East and the Isle of Axholme
- East Worthing and Shoreham
- Erith and Thamesmead
- Glasgow North East
- Glasgow South West
- Liverpool Wavertree
- Manchester Rusholme
- Mid Bedfordshire
- Mid Derbyshire
- North East Derbyshire
- Ossett and Denby Dale
- Penistone and Stocksbridge
- Plymouth Moor View
- Rawmarsh and Conisbrough
- Reading West and Mid Berkshire
- Rhondda and Ogmore
- Sheffield Hallam
- St Helens North
- Stockton West
- Warrington North
- West Ham and Beckton
- York Outer
Glasgow North East and Glasgow South West were the only Scottish constituencies to have no bank branches.
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