We welcome the opportunity to respond to HM Treasury’s Access to Banking Services Review Call for Evidence. Our response makes the case that access to banking should be treated as a core financial inclusion issue, not simply as a question about the future of branches.
As more services move online and physical banking infrastructure continues to shrink, some people risk being pushed further away from the support they need. This includes people who rely on cash, lack digital confidence, face accessibility barriers, or need human support at moments of stress or complexity.
We believe essential in-person banking should be defined more broadly than cash withdrawal and deposit. People may need help with fraud, payment issues, account access, bereavement, power of attorney, financial difficulty and referrals into wider support.
Access to banking also has links to wider financial inclusion, including access to affordable credit. Where banks cannot lend safely within their own risk appetite, customers should not simply reach a dead end. In-person access points can play an important role in connecting people to appropriate alternatives, including credit unions, CDFIs, debt advice and income maximisation support.
Current provision, including bank branches, Post Office banking services, banking hubs, ATMs and digital banking, is important but incomplete. Future access policy should protect cash and non-digital routes for those who need them, strengthen Post Office banking and banking hubs, and ensure innovation expands access rather than deepens exclusion.
