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The Wake Up Alarm Is Ringing! Hundreds of Banks Are To Close Down in Towns Across Britain (Video)
The Wake Up Alarm Is Ringing! Hundreds of Banks Are To Close Down in Towns Across Britain
15 Feb 15
Almost 900 bank branches are now at risk of closure in the UK!
Efforts by business secretary Vince Cable to force to banks resurrect this commitment have been rejected by the lenders, which claim that many branches are not busy enough to keep open as more customers switch online.
Instead Mr Cable has been trying to reach a compromise with lenders, including strict protocols for banks wanting to close a branch – including the requirement to ensure there are alternatives nearby.
Proposals, contained in a seven page document leaked at the weekend, include the requirement for banks to give customers three months’ notice if they local branch is set to be closed.
But it states that ‘decisions on branch closures are ultimately commercial decisions’.
Experts have warned the loss of the last bank in town pledge – which was introduced in 2008 – puts 878 branches around the country at risk.
In total more than 500 branches are expected to be shut during the course of the year. This would break the record of 479 set last year, which compared to just 195 in 2013. Read more or listen to video below
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