Nearly half of banks in Salisbury have closed since 2015, new figures show.

Analysis from consumer champion Which? has shown a sharp decline in the number of bank branches open in areas across much of the UK compared to seven years ago.

According to figures up to the end of April, seven banks have been shuttered in Salisbury since the start of 2015, leaving eight remaining in the area.

Separate figures from LINK, a cash machine network, show there has also been a decline in the number of free-to-use ATMs across the UK in recent years.

Their data shows that between the start of 2018 and early March this year, the number of ATMs in Salisbury dropped from 94 to 73.

The increasing use of online banking and contactless payments have led to concerns some will be left behind, or unable to access key services.

Resident Nigel Thorne said that online services are “faceless”, adding that he always goes into the branch and that it is important to “speak to people”.

However, this has been a problem for Nick Bacon, who has recently moved to Salisbury. He banks with TSB, which is a branch that has closed in the city.

“I am online. I don’t really like it, but the world is changing,” he said.

Which? chief executive, Anabel Hoult, said: “While the pandemic has accelerated the move to digital payments for many consumers, many are not yet ready to make that switch and require protection from an avalanche of ATM and bank branch closures that have left the UK’s cash system at risk of collapse.”

A bill to protect access to cash was announced as part of the Queen’s Speech in May.

The Treasury says the new legislation will ensure “continued access to withdrawal and deposit facilities across the UK”.

Economic secretary to the Treasury and Salisbury MP John Glen, said: “We know that access to cash is still vital for many people, especially those in vulnerable groups.

“We promised we would protect it, and through this bill we are delivering on that promise.”

Which? welcomed the bill but said it “must ensure that clear requirements are placed on industry to meet communities’ need for cash”.

Its data found that nearly half (48 per cent) of bank branches across the UK have closed since the start of 2015, and seven constituencies have seen every one of their bank branches closed in recent years.

 

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