A Renfrewshire councillor is calling for the reintroduction of banks in Renfrew after locals were left without cash during the Christmas period.
During the recent festive period, the residents of Renfrew were faced with a “significant issue” after the town’s ATMs simply ran out of cash.
The issue heightened when the ATM at the town’s Post Office was vandalised.
This caused “severe distress and disruption” and Renfrew councillor Jamie McGuire believes this has highlighted “the glaring inadequacies” of the financial infrastructure left behind after the closure of Renfrew’s banks during 2024.
The Bank of Scotland closed its Renfrew branch in July leaving the town – with a population of around 25,000 – without a single remaining bank branch.
Speaking to the Paisley Daily Express this week, Councillor McGuire said: “The closures, particularly of the last remaining Bank of Scotland branch, were a devastating blow to Renfrew.
“Despite strong opposition and a community-led campaign that I was proud to lead, the decision-makers disregarded the needs of local residents.
“The impacts of this have been far-reaching and deeply felt, as the most recent ATM crisis illustrates.
“One of the ATMs in the town, which should serve as a lifeline for residents, was even vandalised, exacerbating the shortage of cash at a crucial time.
“For a community that relied on in-person banking facilities, this situation has exposed the vulnerabilities of a cashless banking model that fails to account for the needs of all demographics.”
The bank stated the number of people using the branch was falling, arguing that 79 per cent of customers use other banking methods such as mobile, internet or phone banking, as well as other branches.
Dozens of panicked Renfrew residents took to social media over the Christmas break in a bid to find out where they could lift money.
One resident commented: “You know how bad the cash machines are in Renfrew on so many occasions with no cash – so why would someone smash the one at the Post Office two days before Christmas?”
One local pleaded: “Where can I get cash in Renfrew please? Someone help.”
While another posted: “It’s the same every Christmas. There’s only so much cash they hold.”
Another resident blasted: “It’s not cash machines we need, it’s a bank.
“The banking system throughout is shocking.”
The nearest bank is located in Paisley and Councillor McGuire states this causes “significant accessibility challenges for Renfrew residents”.
He stated: “For those without access to a car, particularly elderly residents and those with mobility issues, making the journey to Paisley is impractical if not impossible.
“Public transport options are limited, and the physical strain of such a trip can be overwhelming for some.
“This is not just an inconvenience; it is an erosion of the basic services that a thriving community requires.
“The lack of accessible financial services has a ripple effect on the local economy.”
He added: “Businesses in Renfrew are now forced to contend with the logistical challenges of managing cash flow without a nearby bank. Customers who might otherwise shop locally are inconvenienced, driving them to larger towns or online retailers, which takes money out of the local economy.
“The Christmas period is an especially poignant time to reflect on these issues.
“For many, it is a season of heightened expenses and generosity, whether it be buying gifts, donating to charity or ensuring that households are well-stocked for the holidays.
“The inability to access cash during this period caused avoidable distress and highlighted the fragility of the system in place.”
Now the Labour councillor is calling for the return of banks to Renfrew.
He added: “It is clear that the closure of Renfrew’s banks was a mistake.
“The argument for their return is not merely nostalgic but rooted in the practical realities of modern life. Cash remains a vital part of our economy and daily lives, particularly for those who are less comfortable with digital banking or lack access to reliable technology.
“The ATM crisis is yet another indication that Renfrew deserves better.
“It is time for financial institutions and policymakers to acknowledge the impact of these closures and work towards restoring in-person banking services.
“A community like Renfrew should not have to endure such disruptions, especially when solutions are both possible and necessary.
“Let us make it clear: Renfrew needs its banks back.
“This is not just about convenience; it is about fairness, accessibility, and ensuring the resilience of our town’s infrastructure for all who live and work here.”
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