Royal Bank of Scotland has announced it will be closing 162 branches across England and Wales.
Georgie Frost, Consumer Advocate at leading comparison site GoCompare comments:
“The decision to close 162 RBS branches is incredibly disappointing for customers and for the almost 800 staff who will lose their jobs.
“It is not just those living in rural communities, the elderly and vulnerable, who will be negatively impacted. The fiasco at TSB, which has shut millions out of their online and mobile banking accounts, shows how vulnerable we are should the technology fail, with many forced to make long journeys to get cash out of their nearest branch.
“Indeed, the Unite union has calculated that in almost half of the cases of closures at the majority-taxpayer-owned RBS, customers will be forced to make round trips of at least 25mins to access branch services.
“RBS say that branch transactions have fallen in England and Wales by 30% since 2014 with mobile transactions up almost 75% and mobile banking also on the rise.
“But the reality is there are still too many people who are unable or unwilling to go online, and quite frankly in a fortnight that has seen IT issues at TSB and indeed at RBS itself, there will be many more who now simply do not trust the technology at banks to cope.
“With the disruption at TSB, and now this announcement from RBS, there will be plenty of unhappy customers now looking for a new bank. Switching current accounts is easier and quicker these days and some banks are offering some worthwhile incentives for those that make the leap. Offers range from £185 in M&S vouchers from M&S Bank, to £150 with HSBC for those who prefer cash over vouchers.
“Of course, if it’s important to be with a bank with a branch nearby, the choice may be more limited so check out what features are most important and make sure the account is right for you before you switch.”
For more information on switching bank current account provider visit: https://www.gocompare.com/current-accounts/
For further information please contact:
Anders Nilsson or Martyn John at GoCompare on 01633 654 054 / 01633 654 725
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