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Small firms urged to share bank closure experiences

Small businesses can support FSB’s work on bank branch closures by sharing their experiences of their community.

A review of the bank branch closure protocol, which obliges banks to liaise with local consumers and businesses on possible implications when looking to close a branch, particularly if it is the last one remaining in a town, is taking place a year on from its establishment.

“Branch closures can deprive small business owners of formal channels for advice,” said Mike Cherry, FSB National Chairman. “If branches are closing, the advice gap only gets bigger.”

This effect can be compounded when rural branches are shut, he adds, as broadband speed problems and older demographics mean that online alternatives are not always ideal.

FSB supports the protocol, but is keen to hear from members about how well it is working. “We want to make sure it’s being adhered to and that there are benchmarks,” added Mr Cherry.

Along with Which? and Age UK, FSB is a member of the Campaign for Community Banking Services.

If you have any experiences of bank branch closures, email Ben.Baruch@fsb.org.uk