Some 736 such outlets have already shut in 2021, with another 220 already set to close next year. Consumer watchdog Which? said many people who depend on bank branches are at risk of being left without access to cash. The group said banks should pause closures until alternative solutions are put in place, or until the Government legislates to protect cash.
Anabel Hoult, Which? chief executive, said: “The alarming acceleration of bank branch closures has left many people who depend on them for essential banking services at risk of being cut adrift.
“While many people can now bank digitally, millions more are not yet ready or able to do so.
“Greater scrutiny of branch closures must be in place to ensure that people who rely on cash can access it.
“We are calling on banks to pause any programme of branch closures until proposals to protect access to cash are rolled out. The Government must also urgently press ahead with long-promised legislation that guarantees consumers can continue to access cash for as long as it is needed.”
Caroline Abrahams, charity director at Age UK, said: “In the past few years we’ve seen an escalation in the number of branch closures, and in the current situation it’s more important than ever that we take action to protect essential banking services.
“We now have a real opportunity for everyone to recognise just how important it is for older people to be able to manage their money in a way that meets their personal needs, and to come together to ensure that the shift to digital banking doesn’t cut people adrift.”
Banking trade body UK Finance’s Access to Cash Action Group is set to outline measures to address the country’s cash crisis, which has been exacerbated by thousands of branches and ATMs disappearing in recent years.
David Postings, chief executive of UK Finance, said: “Ensuring there is continued access for those who need it, both now and in the future, is -something the banking and finance industry has already publicly committed to delivering.”