Bank closure & small local businesses

Avril.smith

I live in a rural town in Norfolk and in December the last of our two banks is to close! Nat West promised to keep the "last bank in town open " but now have gone back on that promise.

What are small businesses and charities supposed to do with their daily takings now? They seem to think the overworked small Post Office will take up the slack ! Where are the elderly to go with their cheques ???? We hardly have a bus service and no railway, thanks to Beecham and many elderly cannot drive.

Surely as banks, as legal holders of cash, have a duty to provide services to communities????

System

Surely a common platform such as Post Office banking is the way forward?

I would make it a part of their banking licence to provide this at near cost where they lack branch coverage.

However, I'm not Gideon.

eskbanker

Avril.smith wrote: »

Surely as banks, as legal holders of cash, have a duty to provide services to communities????

But banks, as commercial profit-making (in theory at least!) companies can't possibly be expected to make some sort of open-ended universal commitment to having branches in every community, however remote. Obviously it's regrettable and inconvenient if yours now falls below what they'd consider to be sustainable but I don't think there's any sort of legal case to be made here, although you might be able to get your local MP interested?

I don't have any stats to hand but believe that the general trend is to reduce the number of branches as more and more services are available online and by phone, even though some people may find this more challenging. NatWest do have a mobile branch facility in some rural areas, perhaps with a bit of lobbying they may be amenable to starting in Norfolk, or maybe other banks already offer this there?

EarthBoy

eskbanker wrote: »

I don't think there's any sort of legal case to be made here, although you might be able to get your local MP interested?

I wouldn't waste your time. MPs in other communities which are losing their last bank branch have already tried to get the banks to change their mind, but to no avail.

Zanderman

Avril.smith wrote: »

Surely as banks, as legal holders of cash, have a duty to provide services to communities????

No they don't. Banks are businesses not public services.

We, the public, don't have any right to have a bank branch kept open near to us for our convenience, any more than any other business - corner shops, bakers, butchers, greengrocers, pubs etc.

If NatWest gave an undertaking to stay open indefinitely they were being disingenuous - no business can give that sort of promise.

eskbanker

EarthBoy wrote: »

I wouldn't waste your time. MPs in other communities which are losing their last bank branch have already tried to get the banks to change their mind, but to no avail.

Yes, agreed, I wasn't necessarily suggesting that this was likely to deliver any actual change but it was more of a general observation that raising such community-related concerns via MPs is probably more fruitful than venting on a web forum!

mgdavid

Avril.smith wrote: »

.....
What are small businesses and charities supposed to do with their daily takings now?

gear up for Contactless and urge customers to do the same

...... Where are the elderly to go with their cheques ?

cheques can easily be posted to a bank or paid in at the Post Office

........Surely as banks, as legal holders of cash, have a duty to provide services to communities?

no they don't, they are not a state-owned public service

10 characters

PeacefulWaters

Avril.smith wrote: »

I live in a rural town in Norfolk and in December the last of our two banks is to close! Nat West promised to keep the "last bank in town open " but now have gone back on that promise.

It always was a time restricted promise.

What are small businesses and charities supposed to do with their daily takings now? They seem to think the overworked small Post Office will take up the slack !

Wouldnt that be a positive thing for the Post Office?

Where are the elderly to go with their cheques ????

Do the elderly have more cheques? Either way, they could go to the Post Office.

We hardly have a bus service and no railway, thanks to Beecham and many elderly cannot drive.

Beecham was 50 years ago. FIFTY. Beeching, btw.

Surely as banks, as legal holders of cash, have a duty to provide services to communities????

They have a duty to their shareholders.

Archi_Bald

PeacefulWaters wrote: »

Wouldnt that be a positive thing for the Post Office?

and an employment opportunity for someone?

pmduk

There is a positive side to this. The additional trade will almost certainly guarantee the continued existence of your Post Office.

takman

I think there needs to be more progress made to move away from the need for bank branches. Last week i needed to close an old ISA account which had £3.01 in it. I had been putting it off for a while because i wasn't able to close it online or by phone i had to visit the branch to do it.

The only real need for a branch is to pay in cash and cheques and to withdraw coins. This can be easily done with automated machines which they have in a lot of branches. Having these located outside of branches would remove the need to have the bank branch completely and also allow 24 hour access.