Banks in Scarborough and Whitby have been urged to ensure locals have access to financial services amid a raft of closures.
More than 40% of banks in Scarborough and Whitby have closed since 2015, research has found and, local politicians have urged greater action to prevent residents from being left in “banking deserts”.
It comes as Barclays is set to close its Whitby branch on Friday, leaving just ten banks and building society branches open across Scarborough and Whitby.
Research by consumer rights company Which? found that nationally more than 5,791 bank branches have closed down since January 2015.
Setting out it's reasons for closing the Whitby branch Barclays said:
"Back when we opened this branch, visiting us in person was one of the only ways to do your banking. Now, as there are lots of ways to manage your money without even leaving your home, we’re seeing many customers choosing to bank using our app, and Online or Telephone Banking. This has had a big impact on the number of customers coming in to see us."
Barclays says that when deciding whether to close the Whitby branch, it "looked carefully at how it’s been used and how customers are banking in other ways." The bank says that:
- 85% of people who use the branch also banked using the app, online and by phone in 2021
- Just 26 customers use this branch regularly as the only way to do their banking (People who’ve only used the cashier service in the branch (12 times or more in the last six months) and didn’t use Online or Telephone Banking, our app, or any other branches)
- 13% of this branch’s customers have used nearby branches in the last 12 months
The increasing use of online banking and contactless payments has led to concerns some will be left behind, or unable to access key services.
Local Labour and Conservative politicians have backed plans for the creation of more ‘banking hubs’ which allow customers from different banks to access financial services in one location.
Alison Hume, Labour’s parliamentary candidate for Scarborough and Whitby, told the Local Democracy Reporting Service (LDRS) that her party’s plan to create “at least 350 banking hubs on local high streets” would mean that
“people can access the services they need closer to home here in Scarborough and Whitby.”
“People shouldn’t need to travel far just to get the money they need to spend in our local communities.”
She added:
“Whilst the Conservatives are overseeing the decline in local banking services and our high streets, Labour’s plans for small businesses and our pledge to bring back banking hubs will mean that we can find pride in our local high streets again.”
Roberto Weeden-Sanz, the Conservative parliamentary candidate for Scarborough and Whitby, said he was “disappointed” that Whitby was losing another bank branch.
Mr Weeden-Sanz, who works as a retail banker, told the LDRS:
“Retail banking is a fast-changing business, but banks must ensure access to cash, particularly for elderly or vulnerable customers and rural communities.
“Banks need to look into opening a banking hub locally in order to ensure that this access remains for our community.”
He added:
“I am glad that the Government is taking action to stand up for customers by protecting access to cash in law and moving to stop dodgy practices such as de-banking clients.”
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