1Introduction
1.Recent years have seen a rapid decrease in banking infrastructure in Scotland and in people’s ability to access cash and other banking services. Since 2010 over a third of banks in Scotland have closed,1 in addition to 290 ATMs which have been withdrawn from service over the past year, the majority free-to-use.2 This has mirrored a wider trend in decreased cash usage across the UK3 and has raised concerns about the ability of vulnerable groups and those living in isolated or rural locations to continue to have access.
Our inquiry
2.This is not the first time we have looked at these issues. Following RBS’s decision to close 62 branches across Scotland in December 2017, we held a short inquiry and produced a report looking at the closure process.4 In May 2018 we held a one-off hearing on the ATM network in Scotland.5 We have built on that work in this short inquiry during which we held five oral evidence sessions with consumer groups, financial bodies, regulators and the UK Government, and received 43 pieces of written evidence. We are grateful to everyone who contributed to our inquiry.
1 BBC, Cash fears as third of Scottish banks lost, 26 March 2019
2 BBC, Scots ‘battle’ to get cash after banks and ATMs shut, 12 February 2019
3 Access to Cash Review, Final Report, March 2019
4 Scottish Affairs Committee, Royal Bank of Scotland branch closure, Third Report of the Session 2017–19, HC 682
5 Scottish Affairs Committee, ATM Network in Scotland, oral evidence session, HC 925
Published: 29 August 2019