Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many UK bank branches have shut or been earmarked for closure in (a) Newport West constituency, (b) Wales and (c) the UK since 2015.

The Government recognises the continued importance of access to banking. However, decisions on opening and closing branches are a commercial issue for banks and building societies. The Government does not intervene in these decisions or make direct assessments of these branch networks. HM Treasury therefore does not collect any data relating to branch closures.

In May 2017, the largest banks and building societies, including those with a large presence in Wales, signed up to the Access to Banking Standard which commits them to ensure customers are well informed about branch closures, the bank’s reasons for closure and options for continued access to banking services.

Guidance from the Financial Conduct Authority also sets out its expectation of firms when they are deciding to reduce their physical branches or the number of free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs and consider possible alternative access arrangements. This ensures the implementation of closure decisions is undertaken in a way that treats customers fairly.

Alternative options for access can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 95% of business and 99% of personal banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.

The Government also welcomed new industry commitments at the end of last year to protect cash access, including through shared services, and looks forward to seeing what results they deliver in protecting cash facilities for local communities across the UK.