Gareth Shaw, Head of Money, Which?, said:
“Wales has lost a huge number of bank branches, with over two-fifths of the network having closed in less than five years – leaving people across the country struggling to access vital financial services and cash.
“This important inquiry has put the problems faced by people hit by the double blow of widespread cashpoint and bank branch closures at the top of the agenda and the committee is right to call for urgent action.
“We believe the UK government should intervene by introducing legislation that ensures consumers can continue to access and pay with cash for as long as it is needed.”
Notes to editors
In January 2015 Wales had 557 bank branches. The network as of August 2019 had 318 branches remaining. Overall, 239 closed during this period, which equates to a 43 percent loss of the entire branch network.