Petition to TSB: Save our ATM!
The Big Four banks made over £11bn profits from their high street banks in 2015, and can afford to provide this vital customer service instead of prioritising cost-saving measures that damage communities and small businesses.
Over two-thirds of small businesses say a local bank branch is important and lending to small businesses has been found to drop by 63 per cent in areas with a recent bank branch closure. For deprived communities and households, loss of a local bank branch significantly diminishes their abilities to access even basic financial services. Older people are significantly less likely to use internet or phone banking services.
It’s time our banks recognise that they are a utility providing an essential public service. Shutting bank branches not only means jobs will be lost but also damages local communities.
Under a Labour government, there would be mandatory consultation around the closure of bank branches and we will replace the toothless Access to Banking Protocol with the force of the law to bring banks into line and stem the tide of damaging bank closures.