Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the reduction of face to face banking options for all customers who find digital and telephone banking difficult to access.

Although digital banking is now widely used, with 93% of people making use of mobile or online services last year, the Government recognises that the ability to access cash and in-person banking support remains essential for many. This is why we have secured the industry’s commitment to roll out 350 banking hubs by the end of this Parliament, ensuring that access to face-to-face banking is protected. Over 230 hubs have been announced so far, and over 170 are already open.

An alternative option to access in-person banking services is via the Post Office. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance, pay bills and cash cheques at 11,500 Post Office branches across the UK. The Government protects the Post Office network by setting minimum access criteria. These include ensuring that 99% of the UK population lives within three miles of a Post Office and 90% of the population within one mile.

More widely, ensuring individuals have access to the appropriate financial products and services they need is a key priority for the Government. That is why we have committed to publish a Financial Inclusion Strategy later this year which will examine the barriers consumers face in accessing the products they need.