Royal Bank of Scotland: Closures

HM Treasury written question – answered on 8th January 2018.

Alert me about debates like this

Photo of Ian Blackford Ian Blackford SNP Westminster Leader

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the proposed closure of Royal Bank of Scotland branches on the ability of local business to deposit and collect funds.

Photo of Ian Blackford Ian Blackford SNP Westminster Leader

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the proposed Royal Bank of Scotland branch closures on (a) elderly, (b) disabled and (c) vulnerable people who are unable to use online banking services.

Photo of Stephen Barclay Stephen Barclay The Economic Secretary to the Treasury

The industry’s Access to Banking Standard, launched in May 2017, commits banks to ensure personal and business customers are better informed about branch closures and the reasons for them closing, along with the options they have locally to continue to access banking services, including specialist assistance for customers who need more help. The Access to Banking Standard is monitored and enforced by the independent Lending Standards Board.

99% of banks’ personal and 95% of banks’ business customers are now able to withdraw cash, deposit cash and cheques, and make balance enquiries at a Post Office counter via its network of 11,600 branches. At Autumn Budget 2017, I wrote to the Post Office and UK Finance to ask them to raise public awareness of the banking services available at the Post Office for individuals and SMEs.

The Government will have provided nearly £2 billion during the period 2011 to 2018 to maintain and modernise the Post Office network. In December 2018, the Government announced an additional £370 million of funding for the period 2018-2021.

Does this answer the above question?

Yes0 people think so

No1 person thinks not

Would you like to ask a question like this yourself? Use our Freedom of Information site.