Banks: Rural Areas
The question
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of the closure of bank branches on rural communities in (a) towns and (b) villages.
Answered by Emma Reynolds
The Government understands the impact of bank branch closures on rural communities and the importance of face-to-face banking and 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. Over 200 hubs have been announced so far, and over 100 are already open.
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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