01 May 2018, 17:11

GoCompare comments on the announcement that RBS intends to close 162 branches across England and Wales

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

Gordon, Jason or Liz at MAW Communications on 01603 505 845

Keep up-to-date with GoCompare on Twitter: @GoCompare

Notes to editors:

About GoCompare

GoCompare is a comparison website that enables people to compare the costs and features of a wide variety of insurance policies, financial products and energy tariffs.

GoCompare does not charge people to use its services, and it does not accept advertising or sponsored listings, so all product comparisons are unbiased. GoCompare makes its money through fees paid by the providers of products that appear on its various comparison services when a customer buys through the site.

GoCompare does not sell its customers’ data.

When it launched in 2006, it was the first comparison site to focus on displaying policy details rather than just listing prices, with the aim of helping people to make better-informed decisions when buying their insurance. GoCompare has remained dedicated to helping people choose the most appropriate products rather than just the cheapest, and has teamed up with Defaqto, the independent financial researcher, to integrate additional policy information into a number of its insurance comparison services. This allows people to compare up to an extra 30 features of cover.

GoCompare is the only comparison website to be invited to join the British Insurance Brokers’ Association (BIBA) and is authorised and regulated by the Financial Conduct Authority (FCA).

For more information visit www.gocompare.com and www.gocomparegroup.com

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