The Scottish Affairs Committee will be hearing from the Post Office, Virgin Money, TSB, Santander and Lloyds Banking Group as it continues taking evidence on Access to Cash.
MPs will explore the access to, and the importance, of cash in Scotland, and will discuss measures to ensure the ongoing access to cash for consumers in Scotland.
According to Which?, 54% (554) of the 1019 bank branches existing in Scotland in 2015 will have shut by early this year, with Scotland suffering the highest proportion of closures of any UK region. The Access to Cash Review highlighted that the UK is not ready to go cashless, and that 17% of the UK population would struggle to cope in a cashless society. Amongst the issues likely to be discussed are:
- Bank branch closures in Scotland;
- Alternatives to ATMs and bank branches;
- Scotland’s ATM network and the ATM interchange fee;
- Digital connectivity and access to online banking.
Meeting details
Previous Scottish Affairs Committees have held two inquiries on access to cash in Scotland in the past, with a report on the subject published in July 2019, and a report in May 2018 following closures of branches of RBS.