Published: 08/05/2018 15:01 - Updated: 08/05/2018 15:04

Could banks share hubs instead of closing branches?

 

RBS may review their service
RBS may review their service
 

 

Scotland’s leading charity for older people has welcomed RBS’s plans to discuss with Edinburgh West MP Christine Jardine an idea to create shared banking hubs.

The announcement follows RBS Chief Executive Ross McEwan’s appearance before Westminster’s Scottish Affairs Committee to explain why the bank was closing 62 branches.

Now Mr McEwan has agreed to set up a meeting with Ms Jardine to discuss the idea of banks creating shared branches to mitigate closures.

The charity has already called for banks to consider creative alternatives to closures, including shared branches where several banks would operate on the same premises and share the costs.

Age Scotland Chief Executive Brian Sloan said: "It’s great news that Mr McEwan is willing to take the idea of shared banking hubs seriously as an alternative to closing branches. We’re glad to see he is listening to customers’ concerns and hope other banks will join the discussion.

"Closing rural branches can take the life out of communities, and contribute to loneliness and isolation among older people.

While more people are using online banking, not everyone is able to or feels comfortable with this option. Our members tell us they have a strong preference for face-to-face banking and value the relationships and support of bank staff.

"This idea would help preserve town centres and villages and cut costs, while ensuring that banks don’t leave their most vulnerable customers out in the cold."

Scotland’s leading charity for older people has welcomed RBS’s plans to discuss with Edinburgh West MP Christine Jardine an idea to create shared banking hubs.

The announcement follows RBS Chief Executive Ross McEwan’s appearance before Westminster’s Scottish Affairs Committee to explain why the bank was closing 62 branches.

Now Mr McEwan has agreed to set up a meeting with Ms Jardine to discuss the idea of banks creating shared branches to mitigate closures.

The charity has already called for banks to consider creative alternatives to closures, including shared branches where several banks would operate on the same premises and share the costs.

Age Scotland Chief Executive Brian Sloan said: "It’s great news that Mr McEwan is willing to take the idea of shared banking hubs seriously as an alternative to closing branches. We’re glad to see he is listening to customers’ concerns and hope other banks will join the discussion.

"Closing rural branches can take the life out of communities, and contribute to loneliness and isolation among older people.

While more people are using online banking, not everyone is able to or feels comfortable with this option. Our members tell us they have a strong preference for face-to-face banking and value the relationships and support of bank staff.

"This idea would help preserve town centres and villages and cut costs, while ensuring that banks don’t leave their most vulnerable customers out in the cold."

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