The Bank of Scotland has announced that they are to close branches in Coldstream and Newtown St Boswells.
The bank says that the decision has been made following a drop in customer numbers, and have indicated they intend to replace the branches with a mobile van service.
The news means that there will now be no permanent banking services for either communities after the Royal Bank of Scotland closed its branch in Newtown a few years ago.
Local MSP John Lamont has strongly criticised the decision, saying that the move will see these communities lose a key service. He has asked for a meeting with senior management of the Bank of Scotland.
John Lamont MSP said: “This is very concerning news and I am deeply disappointed that the Bank of Scotland have chosen to shut these branches. This move will see communities lose a key service, in addition to putting jobs under threat.
“I know that the branches in Coldstream and Newtown St Boswells are highly valued by those in the community who use them, and many of these customers will be angered to hear this news. It now means a total withdrawal of banking service for Newtown and Coldstream.
John Lamont added: “Although the Bank of Scotland says that customer numbers have been falling, I know that these branches are used by local businesses and people who struggle to bank online or over the phone. The Coldstream branch moved to reduced opening hours last year, despite being very heavily used in what now appears to be a move towards closing the bank entirely.”