The Royal Bank of Scotland (RBS) has announced it will close its Largs branch on October 3, one of the few remaining in Ayrshire.

RBS is closing 18 branches across Scotland, with 105 job losses and 162 branches in England and Wales, making a further 792 people redundant.

This follows numerous bank closures in recent years, placing people at risk of financial exclusion. Between 2012 and 2022 alone, 40 per cent of UK bank and building society branches closed.

Banks are cajoling us, not always willingly, into a cashless society, aiming to cut costs and maximise efficiency, no matter the impact on people unable to transition into the world of online banking.

As with post office closures, the UK Tory Government – to which banking and postal services are reserved – refuse to intervene in any way whatsoever.

Changes in customer behaviour and market trends undoubtedly influence the commercial strategies of any business. However, banks must understand that despite the prevalence of online banking, a physical presence in communities is vital for those living in them.

Branches are more than a convenience; they connect communities to the broader social and economic network of our country. In failing to recognise this, banks leave hundreds, even thousands of people behind. This is wholly unacceptable.

As your MP, I have actively fought against the banks’ retreat from our high streets and the threat of financial exclusion facing many.

I secured a Westminster debate on banking in North Ayrshire and frequently raise the importance of retaining access to cash, having repeatedly called on the UK Government to act to ensure the digital transition is compassionate, considerate, and inclusive.

This includes bringing forward SNP proposed legislation to establish a minimum service standard for banking provision and postal services, including through physical outlets.

Beyond this, I met organisations pivotal to preserving access to cash, such ATM providers, RBS and Lloyds bank, and supported the Save Our Cash campaign run by Post Office Ltd.

These efforts, alongside local people and others helped establish a new banking hub opened in Kilwinning recently by Cash Access UK. This provides local businesses and residents with essential banking services and face-to-face support.

Last week, West Kilbride Post Office’s closure on May 10 was announced, a heavy blow to a town whose last bank shut in 2015.

I met with Post Office Ltd last week to discuss finding a replacement sub-postmaster for West Kilbride. Even diversifying their business to survive, 70 per cent of sub-postmasters earn below the minimum wage, making it difficult to replace sub-postmasters who retire or move on. 

Six post offices close every week in the UK as the services provided are stripped back by the Tory Government, reducing footfall and sub-postmasters’ incomes.

In recent months, I’ve repeatedly warned UK Ministers of the impact withdrawing energy bill support from small business will have on our high streets.  This also hits post offices already struggling to survive, as running a post office becomes increasingly unviable. 

I will continue fighting against the removal of essential banking and postal services from our communities.