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FSB on Which? bank branch closure figures

New research from Which? shows that Scotland has lost over a third of its bank branches in eight years.

Stuart Mackinnon, external affairs manager for the FSB in Scotland, said: “These figures chime with FSB research showing bank branches closing faster in Scotland than elsewhere in the UK. We agree with Which? that relatively poor Scottish digital connectivity – especially mobile coverage - exacerbates the impact of these closures. 
“Not only does the closure of a bank branch make it more difficult for businesses to access banking services, it also leaves another ugly gap on a high street or in a town centre. We also see often banks tear out their ATMs at the point of closing a branch, removing another important source of cash and way to access financial services. 
“For many businesses, as long as a significant share of their customers want to continue to use cash, there needs to be appropriate local financial infrastructure. Policymakers need to take action to stop financial institutions removing this infrastructure from our communities.”