Bank of Scotland to close Kinross branch

TSB is also to close a branch this year.

The branch is one of 15 local branches across Scotland which are to be shut between April and October 2020.

TSB has already announced that it will be closing its Kinross branch in May.

The decision was criticised by local MSP Roseanna Cunningham, who said she was “disappointed”.

“While banking facilities are available through the Post Office and the Bank of Scotland will now be joining the Royal Bank in making weekly mobile bank visits, this announcement means that we are witnessing the total departure of High Street banking,” she added.

“That is very sad indeed and will be felt particularly by those who still use branch banking – the very people who find it hardest to access other forms of banking or travel to more distant branches. Local businesses used to being able to bank their daily takings will also be severely inconvenienced.

“I will be writing to the Bank of Scotland to urge them to change their minds and, at the very least, whether arrangements can be made to leave the ATMs in place.”

A Lloyds Banking Group spokesperson said: “We are committed to having the largest branch network in the UK and, in addition to our branches, all our customers can also use the Post Office to access their banking locally, alongside our mobile branches which visit many rural communities.

“This is in response to changing customer behaviours and the reduced number of transactions being made in branches.”

Brian Sloan, Age Scotland Chief Executive, also criticised the decision.

He said: “We’re very sad to see Lloyds follow other banks and put profits ahead of its loyal customers, especially those who are older, disabled or don’t have internet access.

“There’s no doubt this will make it harder for tens of thousands of people to access their cash and manage their money on a daily basis. This is part of a slow, relentless march, pushing customers online whether they like it or not, and leading to banking deserts across Scotland.

“We know older people are more likely to rely on physical branches and prefer a face-to-face service. Seven in 10 over-65s don’t use digital banking at all, and more than half of Scottish people aged 80 and above never use the internet.We know banking is changing, but have urged banks to consider creative alternatives instead of leaving vulnerable customers behind.”