Royal Bank of Scotland has confirmed the closure of 11 bank branches, which were previously granted a reprieve amidst ongoing scrutiny.
Despite hopes outlets might remain operational while the effects of new financial regulations were assessed, RBS management has resolved to shut them down, with future closure dates yet to be announced.
This news follows reports last week that over 50 Scottish bank branches are slated for closure in the coming months, the Scottish Daily Express reports.
This development occurs in the wake of fresh guidelines from the Financial Conduct Authority (FCA), which require banks to more thoroughly consider the cash needs of local communities before closing branches.
The NatWest Group, owner of RBS, had indicated that due to the new rules, it was collaborating with the FCA to “ensure we are supporting customers in locations where our branches are due to close later this year”.
When RBS were queried about the possibility of the branches staying open, a spokesperson stated: “We’re fully compliant with our regulatory obligations around closures.
“We’re taking the opportunity to further review the detail on cash services available to customers following the closure of some branches that we’ve scheduled to close in the coming months. Following the conclusion of these additional processes, the branches will close.”
The Royal Bank of Scotland (RBS) branch in New Deer, Aberdeenshire is among those set to shut down. Harriett Cross, the Scottish Conservative MP for Gordon and Buchan, has urged the bank to keep the branch open permanently.
She highlighted that residents would have to travel 30 miles round trip to reach their nearest banks in Fraserburgh or Peterhead. She penned a letter to RBS, urging them to reconsider the closure, stating: “While the way people bank is changing, many elderly and vulnerable customers still rely on having access to a branch on their own doorstep and will be hugely impacted if this closure still goes ahead.
“Rural communities such as New Deer, which have poor mobile and online connections, should not be abandoned, and urgent clarity must now be given on what the next steps are for the branch.”
In response to Ms Cross’s concerns, Thomas Woolhouse, public policy manager at NatWest Group, stated that the company was discussing with Link about “what alternative provisions have been put in place for customers”. He also assured that the bank would remain operational until a review of access to cash was completed.
All 11 Bank of Scotland branches set to close
Despite a temporary reprieve, these 11 RBS branches are still slated for closure:
- Bathgate, West Lothian
- Cumbernauld Tay Walk, North Lanarkshire
- East Kilbride, South Lanarkshire
- Edinburgh Brunstfield, Edinburgh
- Edinburgh Nicolson Street, Edinburgh
- Glasgow Rutherglen West, South Lanarkshire
- Helensburgh, Argyle and Bute
- Largs, North Ayrshire
- New Deer, Aberdeenshire
- Newbridge, Edinburgh
- Wishaw, North Lanarkshire
Two other branches in Inverness are also marked for closure but will be consolidated into a single branch. Additionally, six branches are scheduled to close in the coming weeks or have already ceased operations:
- Aberdeen St Nicholas, Aberdeen – October 9, 2024
- Dundee Kingsway Circus, Dundee- October 8, 2024
- Edinburgh Leith, Edinburgh – October 10, 2024
- Glasgow Cardonald, Glasgow – September 17, 2024
- Glasgow Charing Cross, Glasgow – November 19, 2024
- Glasgow Sauchiehall Street, Glasgow – November 19, 2024
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