Which? comments as Treasury Committee launches inquiry into consumers’ access to financial services

Gareth Shaw, Which? Money Expert, said:
“Rapid changes to the financial landscape risk excluding a significant amount of people from access to vital financial services and cash, notably through the double blow of bank branch and cashpoint closures, which continue at an alarming rate. We know such closures hit rural communities especially hard, with poorer and elderly people most likely to suffer the impact.

“Millions of people are reliant on access to cash and traditional banking services and must not be financially excluded through these ongoing closures, which can devastate communities. The financial services provided by firms must cater to the needs of all consumers, allowing them to conduct their financial affairs as required, and not risk shutting such a large amount of them out.”

Statement