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Further work needed on bank closure deal, say FSB PDF Print E-mail
Thursday, 26 March 2015

Commenting on the newly revised ‘Access to Banking Protocol’ announced today by Businesses Secretary Vince Cable, John Allan, Federation of Small Businesses (FSB) National Chairman said:

“We have worked hard with the banks to hammer out a set of protocols that recognise the commercial realities behind bank branch closures, while making sure services to small businesses are not unnecessarily affected and their day-to-day activities disrupted.

“Today’s protocols are a solid starting point in the short-term - but we expect the banks to continue to look at these issues over the coming year to ensure greater progress in using technology to ease the transition away from branches. Government should seek to ensure the industry considers fully inter-bank co-operation, especially where there are limited facilities - these are critical for the rollout of banking alternatives such as shared branches and over time, smart ATMs.

“When banking alternatives are proposed, they need to work in practice for the area facing closures. For example many areas facing closures still do not have the access to either reliable broadband or mobile connections necessary to properly support online banking. We therefore ask all parties to work closely with telecoms and broadband providers to fill these gaps where they exist.”

(Source - FSB Comment)  

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