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Written question asked by Jon Pearce (Labour) on Monday, 29 July 2024, in the House of Commons. It was due for an answer on Monday, 2 September 2024. It was answered by Tulip Siddiq (Labour) on Monday, 2 September 2024 on behalf of the Treasury.

Banks: High Peak

Question

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of bank closures on access to (a) cash and (b) in-person services in High Peak constituency.

Answer

The Government does not hold bank branch closure data from 2010.

Guidance from the FCA sets out its expectation of firms when they are deciding to reduce their physical branches or the number of free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs, and put in place alternatives, where this is reasonable.

Alternative options to access everyday banking services can include telephone banking, through digital means such as mobile or online banking, and via one of the UK’s 11,500 Post Office branches.

The Government recognises the importance of face-to-face banking to communities and high streets. The Government has therefore committed to work closely with banks to roll out at least 350 banking hubs, which provide individuals and businesses up and down the country with critical cash and banking services.

Secondary information

Type
Written question
Reference
2188
Session
2024-26
Grouped for answer
Yes
Subjects
Closures Banks Cash dispensing High Peak
Link
View this Written question on www.parliament.uk