By John Lamont MP
The growth of online and telephone banking services has been a fantastic development, but they are not for everyone.
Access to cash and in-person banking services is still an absolute necessity. It's especially important for small businesses who need to make deposits, elderly people who may not be able to easily travel far, and vulnerable people who may need the help of bank clerks. The demand is even more acute in rural and remote areas where the next bank branch could be many miles away.
In recent years, we have seen a steady stream of bank branch closures across our communities, from Hawick to Kelso and beyond. Each closure chips away at our high streets and makes everyday life that bit harder for people who rely on cash.
I've been very disappointed by the actions of big banks, who have too often abandoned rural communities, leaving people with fewer options and longer journeys just to carry out basic transactions. They have treated loyal customers poorly.
I will continue to campaign against closures and for improved services at every chance I get. I have pushed for the introduction of shared banking hubs, which allow customers of multiple banks to access essential services in one place. We have already seen the benefits of this model in Jedburgh, where a hub now provides reliable, weekday access to cash and in-person support.
However, more must be done. I have led campaigns to secure banking hubs in both Eyemouth and Selkirk, backed by petitions signed by over a thousand local residents. These communities have been left without proper banking facilities for too long. It is simply not acceptable.
But we should recognise when banks do the right thing. I'm pleased that Nationwide confirmed at the end of last year that their Galashiels branch will remain open until at least 2030.
Ensuring that people here, and in surrounding communities, can access cash and speak to someone in person about their finances is essential. Without that, we risk excluding those who need these services the most.
Access to cash is not a luxury. It underpins the local economy, supports vulnerable residents, and sustains our town centres. I will continue to press banks to ensure that communities like ours are not overlooked.
If you believe your local area needs better banking services, for instance a community hub, then please do get in touch with my office and I will help you however I can.
