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Members concerned by bank branch closures

Over the past few months, a number of FSB members in Norfolk and Suffolk have expressed concern about the impact that local bank branch closures could have on their business.

Several banks have recently announced plans to close branches in the region.

Members have, in particular, highlighted the amount of additional time that must now be taken out of their businesses in order to deposit cash at the nearest branch.

While many local businesses now bank online, others are based in areas in which connectivity is too slow and unreliable for this to be a viable option.

Some members have noted that the closures also appear to be happening at a time when the future of the ATM network appears highly uncertain.

FSB  has recently warned that this risks creating a “perfect storm” on the high street, which is already under pressure amid rising costs and online competition.

If you are concerned about the effect that local branch closures could have on your business, please contact Development Manager