Keighley’s MP has said he is becoming “increasing concerned” with the growing shift towards a "cashless society" following the closure of yet another bank branch in Keighley.
Speaking after a meeting with representatives with Barclays, who announced the closure of their Keighley branch last month, the town’s MP Robbie Moore says that it is “imperative that banking services remains accessible to all”, with Mr Moore telling banking representatives that closing services risks impacting some of the most vulnerable in the community and that alternative proposals could be a "smokescreen" for reducing services.
A consultation into accessing cash is currently underway and one proposal put forward by the Financial Conduct Authority (FCA) would end the “last bank in town” rule, which effectively stops LINK deciding if an area needs more access if there is a bank or building society available. Instead, the FCA is proposing LINK could intervene when the second to last bank closes.
Barclays say they will be maintaining a physical presence in Keighley through a new “local site”, potentially in Airedale Shopping Centre.
Speaking after the meeting with Barclays, Mr Moore said:
“This month, I met with representatives from Barclays to outline my opposition to the closure of yet another local bank branch in Keighley. I am becoming increasingly concerned with the growing shift towards a cashless society and it seems clear to me that measures like replacing bank branches with “local sites” in the community, which operate on reduced hours, are simply just another smokescreen to further reduce banking services in our town.
As I stated at the meeting, it is absolutely crucial that Barclays properly addresses the needs of their vulnerable customers who depend on physical branches and it is imperative that banking services remains accessible to all"
