Banks: Lincolnshire
The question
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of bank closures in (a) South Holland and the Deepings constituency and (b) Lincolnshire on (i) pensioners and (ii) small business owners.
Answered by Tulip Siddiq
The Government understands the impact of bank branch closures on communities and the importance of face-to-face banking. It is committed to championing sufficient access for all as a priority.
This is why the Government is working closely with industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to deliver these hubs by the end of this parliament. These hubs will provide small businesses and individuals who need face-to-face support with critical cash and in-person banking services. Over 80 banking hubs are already open and Cash Access UK, who oversee banking hub rollout, expect 100 hubs to be open by Christmas.
Furthermore, FCA guidance expects firms to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs and put in place alternatives where reasonable. As well as banking hubs, alternative options to access everyday banking services can be via telephone banking, through digital means such as mobile or online banking and via the Post Office.
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