Face-to-face Banking Services

Lord Tyrie Excerpts

Thursday 18th June 2026 Lords Chamber

[Lord Wilson of Sedgefield (Lab)]

As far as rural banking is concerned, as I have said, 99% of the population are within three miles of a post office. We need to expand the role of banking hubs, but we also need to look at credit unions and at where we can display ATMs. We need to look at a whole range of issues, a lot of which will be taken into consideration by the review into access to banking. Some of the points that the noble Baroness has made will be taken into consideration, and she can also take part in the consultation.

[Lord Tyrie (Non-Afl)]

Face-to-face banking may be a lost cause, but we should at least be able to put in place a system that enables customers to speak to a human being rather than face a bot. This review could benefit from widening its terms of reference. Can the Minister take away what he has heard today with a view to making sure that the terms of reference cover the points that have been made? While he is at it, can he make sure that the role of competition can be considered? Even now, it is extremely difficult to get a banking licence, despite many efforts to make it easier. There will be new entrants into this market that are prepared to offer a customer the option of talking with a human being, but to secure that, competition must be made easier by the regulators.

[Lord Wilson of Sedgefield (Lab)]

Noble Lords have made some very pertinent points. There is a great element of consensus in the Chamber today, and all the issues the noble Lord has just raised are ones we need to take into consideration. The consultation is already taking place. It ends in July, and we will have the recommendations in due course. We have an enabling clause in the Bill that is currently going through Parliament. Again, I say to the noble Lord that if he wants to take part in the consultation, he is more than welcome to do so.