High street Bank closures...

DampDog

DampDog

DampDog

Soldato
Joined
19 Oct 2010
Posts
2,678
Location
North Staffs
Mini rant really..

Seems there is no end to the list of continuing Bank closures. Locally we've lost another 3 over the weekend. (Barclays X2, Natwest X1) Closest branch to me is now Hanley/Newcastle (Stokie) neither is a town centre you'd wish on your worst enemy. Basically druggies, drunks, vagrants and boarded up buildings. Natwest alone have closed Kidsgrove, Alsager, Tunstall, Bidulph, Sandbach. Plus all the other Banks have followed suit.

I don't know if it's a deliberate plan to bring cash transactions to an end or just rabid cost cutting by the banks? But it's wrecking the local economy in some places. There are tons on little weekend markets that have just vanished. Almost all the little towns around the Potteries had a weekend market of some sort for decades. Places that were bustling with people are now either dead or dying. Internet shopping has also wiped out what was a nation of shop-keepers. I'm sure it must be replicated across the UK. The Post-Office stopped doing current accounts a while back so I moved my ole mum's account to the Bank instead. Now they vanish by the day. She's become dependent on favours/fiends to get into town. It's OK say well you don't need a bank just use card but loads off old folk still like to use cash-money because it's what they know. I feel sorry for upcoming generation as they will think it's always been ***** like this. Not that these little high streets were once packed with folk.
 
n111ck said:
Surely the banks shut because not enough people use them to make them financially viable?

can’t remember the last time I needed one - on the odd occasion I get a cheque you can just scan it via the app..
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That's definitely the case for some branches. However in particular one of the branches they closed over the weekend was never less than queueing out the door. I've literally never been in when it was empty. As other local branches closed, it became the goto branch for lots of traders and such, which meant it was very well used. I'm astonished it's been closed, hence my little hissy-fit/rant.
 
Personally I'm a bit of a dinosaur and probably still use cash more than most, I miss the abundance of banks and cash machines we had access to. That said doing every purchase via a card or an app. isn't really of any consequence. What set me ranting was at least one of the banks that closed this weekend was always busy by virtue of picking up the slack from customers who need to use a bank but had already seen theirs close. So them only closing due to "financial viability" doesn't ring true in this case. Plus the banks are pretty good at making money and hoarding it rather than passing it on, blowing a few quid on customer service might not go amiss.

I know quite a few pensioners who's world still revolves around "paper-money." Adopting the whole internet and electronic banking world will always be a none starter. Embracing new tech is good for us (so they tell us) but if folk are not as willing or able to adopt it, losing the old way of doing things is more of an issue. Many small Post Offices have been absorbed into the corner shop and traditional counters have disappeared. Now if you want to pay money in it's pretty much via the counter & till so every man and his dog has view and earshot of your business. Not ideal if you're a frail pensioner.

I'd put money on if (If I could find an open bank) that within a decade or so paper money will be naught but a memory. As above. Lots of what where the market trade will vanish. But is it not what the government wants? to know where your every penny is? Unless you're wealthy enough to have it all hidden offshore by your personal accountant.
 
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adam cool dude said:
Basically you are saying because cash is going that tax dodging is going with it which is why people that needed that to survive are going? I sold something the other day for cash which I haven't had in my hand for nearly 2 years.
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There is that to it. I'm sure clamping down on potential tax dodging is definitely some of what is driving it. Electronic money is where we a heading like it or not. But the market traders have all but vanished from town centers. I'm sure the lions share would be all cash in hand, perhaps not the larger stalls but all the weekend warriors who who supplement their income via a bit of trading. Thing I was really driving at is once the banks, markets and shops disappear, the high streets become derelict and are only visited by the homeless, addicts or dealers. The high streets once thrived, now they are becoming a place to avoid. Internet has obviously had a huge impact on the way people buy stuff, but I'm told it is actually nice to go outside once in a while.

Bizarre how years ago, nowhere near as many folk had bank accounts. The Friday night pay packet was a thing. Yet the banks could find the money to have a bank on every street corner. Now, almost everyone has an account they can't afford it. They don't even pass on the current interest rates rates for months, if ever.
 
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