‘Urgent assurance’ sought over Stromness Bank of Scotland branch closure

March 23, 2022 at 4:09 pm

Bank of Scotland has confirmed that it is to permanently close its Stromness branch.

The closure, scheduled for August, comes after an “in-depth review” published by the bank.

A number of factors are behind the decision, according to the bank, including declining “in-branch transactions” by customers, with this falling by 22 per cent for personal customers in the last year alone, and by three per cent for business customers.

According to Bank of Scotland, only 19 of its customers regularly used the branch in the past 12 months.

But Orkney parliamentarians have today sought “urgent assurance” over the closure, which is due to take effect on August 17 and is one of 19 across Scotland.

Orkney MSP Liam McArthur said: “News that Stromness is set to lose its last bank will be a further blow to the local community.

“While banking services have increasingly moved online, branches still provide an important service for local cash access and financial advice.

“I will be seeking to speak with the Bank of Scotland urgently to ensure that any closure does not threaten local jobs and on best we can maintain the services provided in Stromness.”

Meanwhile, Northern Isles MP Alistair Carmichael described the news as “disappointing to say the least”.

“Banking has changed enormously over the years and the pandemic has seen a lot of customers move online,” he said.

“Even so, many islanders, particularly older and more vulnerable people rely on bricks-and-mortar banks as a matter of trust. What we cannot afford to see is an ongoing draining away of community services over time.

“We need an absolute assurance from Bank of Scotland that jobs and services will not be undermined and that Stromness will continue to get the level of banking access it deserves.”

This announcement by Bank of Scotland comes six years on from the closure of Royal Bank of Scotland Stromness branch.

In its review, the bank states: “Our customers’ needs are changing.

“Almost 18 million people now bank with us through Internet Banking and over 13 million use Mobile Banking. Branches will remain vital in meeting customers’ needs but we must continually review our network to make sure we have branches in locations where customers need and use them the most.

“As a result, we’ve made the difficult decision to close this branch because customers are using it less often. In addition the majority of customers are also using alternative ways to bank.”

Explaining what the closure will mean for Bank of Scotland customers signed up to the Stromness branch, the bank adds: “You can use any of our branches and our nearest alternative is the Kirkwall branch.

“You can also use a Post Office for your everyday banking.

“We’re still here to support you, and there’s a number of ways you can bank with us. Read on to find out more, and for a summary of our review.”

A second review of the branch is also due to take place, based on community feedback to the closure announcement.

The bank states: “Following engagement with the local community, an overview of the feedback we receive will be given in our Closing Branch Review Part 2.”