MSE News: 193 bank branches to close next year – check if yours is on the list, plus alternatives

13thlegion

Eco_Miser said:

Everyone seems to be looking at this from a Personal Banking perspective - there's also businesses and Clubs & Associations using branches.

As an individual I hardly ever use a branch, but as treasurer of a community group that organises a summer carnival and winter market every year I need to pay a lot of cash in after each event.

Similar for me. Personal banking haven't used my local branch in years and it will close now.

I'm the Treasurer of the local history society and use the bank every month to pay in cash. I've only just convinced the committee to allow app bank transfers instead of cheques for paying for payments. 

ReadandWrite

In my area (South London) the cash machines at stations have become chargeable. We currently have three banks with one due to close in the spring... I'm sure the others will follow... As the banks close so the bank cash machines go. I have the feeling that it will become impossible to take out cash without paying a penalty in the future. Thoughts?

eskbanker

ReadandWrite said:

In my area (South London) the cash machines at stations have become chargeable. We currently have three banks with one due to close in the spring... I'm sure the others will follow... As the banks close so the bank cash machines go. I have the feeling that it will become impossible to take out cash without paying a penalty in the future. Thoughts?

There has been plenty of effort devoted to protecting access to cash for those who wish to continue to use it, and, following extensive consultation and working groups, etc, the government committed last year to legislate to grant the FCA powers to implement a policy:

https://www.gov.uk/government/news/new-powers-to-protect-access-to-cash

I don't see any explicit commitment to this being free, but the document notes do imply that:

Currently, around 96% of the population are within two kilometres of a free-to-use cash access point. This includes free-to-use ATMs, bank branches and Post Office branches.