Gareth Shaw, Head of Money, Which?, said:
“While digital banking is on the rise, there is still widespread appetite for dedicated bank branches that provide the full-range of financial services and vital access to cash. Despite this, our findings show that the UK has lost two thirds of its bank branches in three decades – and over 60 branches continue to close every month.
“The government has rightly committed to protecting access to cash, so its new taskforce must explore all options – including legislation – to ensure this payment method is preserved for as long as it is needed.”
Notes to editors
The UK has lost almost two thirds of its bank branches in the last 30 years, leaving a fifth of households now more than three kilometres from their nearest branch, new Which? figures reveal.
According to parliamentary records, there were 20,583 branches in 1988, but the consumer champion’s analysis of all the current account providers shows that there are just 7,586 today.