MORE than half (52 per cent) of UK bank customers with disabilities feel that branch closures have negatively affected their ability to access vital banking services, according to a survey by consumer group Which?
The 2,700-plus people surveyed also mentioned issues around wheelchair access (13 per cent), hearing loops (10 per cent) and accessible debit card (12 per cent).
The Which? survey comes after separate analysis by banking and wealth management group Investec said the current pressure on branch-based accounts is likely to continue after another 432 bank branches are set to shut this year, taking the 2022/23 total to 857.
Last year saw the closure of nine branches of Ulster Bank in Northern Ireland, leaving only 83 branches of the ‘big four’ (Danske, Bank of Ireland, Ulster and AIB) remaining.
So far this year Halifax, HSBC and Barclays have also closed outlets in Coleraine, Lisburn and Portadown.
And Halifax will shut a further two branches in Lurgan and Larne, leaving it with just 11 branches in the north (for Larne customers, that may mean an indirect 90 minute bus journey to Ballymena if they still want to use a branch).
The banking industry justifies the increasing number of closures by saying fewer people are now using branches and are opting for digital banking instead.
Around 8.4 million people in the UK have switched to digital, postal or telephone-based banking because their local bank or building society has been shut.
David Hunt, head of retail savings at Investec, said: “Branch-based accounts have been very popular, but bank branch closures are making it difficult for customers to manage their money which is driving huge growth for digital accounts which can be opened immediately online.
“They offer ease of access and are simple to set up and manage on an ongoing basis. Crucially they also offer the most competitive interest rates across the full range of accounts.”
However, as a result of these closures many older people have been left feeling abandoned and struggling to access basic banking services at a time when financial troubles are rife.
Sam Richardson, deputy editor of Which? Money, said: “Bank branch closures can have significant impacts on local communities and in particular those living with disabilities, who are among the most likely people in society to rely on both cash and in-person banking services.
“Which? believes that banks must consider the impact on disabled customers’ ability to access vital face-to-face banking services before they shut physical branches, as our research shows alternative services often aren’t up to scratch.”
It said that as of June 2, banks and building societies had closed or were scheduled to close 5,695 branches since January 2015.
