Still pushing the message that banks really matter to communities
It was great to attend the launch of the new Banking Hub in Wick last week. Well done to everyone who worked so hard to make it happen.
This new space gives the community access to services from all the major banks — something that’s been badly needed following a spate of local branch closures.
The closure of high street banks isn’t an issue unique to Wick — it’s one that crops up time and time again across my constituency.
Banks often point to changing customer habits and the growing use of online banking, a trend that accelerated during the pandemic, as the reasons behind closures. But the loss of face-to-face services and physical branches is not without impact.
In Golspie, I’ve been working closely with the community council to campaign for better access to cash. The need for that became especially clear a few months ago when the Co-op was hit by a cyber-attack. With the systems down, the village’s only cash machine quickly ran out of cash. With the Post Office closed outside of business hours and all electronic payment systems down, this left local people without any means to pay for essential goods.
When Bank of Scotland still had a branch in Golspie, residents could count on access to basic banking services, including cash.
Since the closure, that access has become much more fragile. I’ve raised this directly with the bank, stressing the loyalty of their customers in the village and calling for at least a basic ATM to be reinstated. Unfortunately, they declined.
For those who rely on online banking or contactless payments, the shift away from traditional services might not seem like a big issue but for many, particularly older residents and those on lower incomes, access to cash is still absolutely critical.
The growing fragility of access to cash is a reality that many communities across Caithness, Sutherland and Ross are all too familiar with.
Research published in 2018 by Highlands and Islands Enterprise highlighted the unique challenges rural communities face in accessing banking services. It found that alternative branches in the Highlands and Islands were often much farther away than in other parts of the UK — sometimes even requiring ferry travel.
The report emphasised that access to cash, beyond ATMs, is vital for the rural economy. It identified small retail shops, local businesses, tourism, agriculture, fishing, and community organisations as especially dependent on reliable cash access for day-to-day operations and seasonal labour needs.
I know online banking is the go-to for lots of people now, and it certainly has its place. That doesn’t mean we can leave behind those who rely on face-to-face services or underestimate the role these services play in supporting our local economy.
Banks still have a social responsibility to serve all of their customers. It’s a message I keep trying to get across whenever I’m contacted about yet another planned closure. What happened in Golspie shows just how vulnerable rural communities can be when digital systems fail. It’s a clear reminder that we still need robust, on-the-ground banking services.
The new Banking Hub in Wick is a positive example of what can be achieved when there’s real effort to make banking accessible again.
Across my constituency, there are several other communities facing similar challenges, and they too would benefit enormously from a hub.
This model offers a practical solution to the growing gap in local banking access — and I’m keen to see it rolled out more widely, and as quickly as possible.
Maree Todd is MSP for Caithness, Sutherland and Ross.