It may be about to get easier to park in the marketplace in Horncastle, but this will be of no comfort if you need to use the nearby HSBC or Natwest branches. The HSBC branch is due to close in June, and the Natwest in September. Both banks attribute these closures to the move to internet and mobile banking.
Bad luck for those who will lose their jobs and for customers who have no access to the internet or still have slow broadband and poor mobile coverage, or live miles from the nearest Post Office. For the residents of Kirkby on Bain, this leaves only the Barclays Horncastle branch and Lloyds in Coningsby within striking distance, and if the same logic applies, who knows how long they will last?
An RBS spokesman said: “The way people choose to bank with us has changed radically over the last few years. Between 2010 and 2015, mobile and online transactions have increased by over 400 per cent and mobile transactions alone have increased by 1,350 per cent.”
It’s much the same with HSBC “The way our customers bank with us is changing. More customers are using mobile and internet banking than ever before, innovation such as Touch and Voice ID has proved extremely popular, and fewer people are using branches”.
Hang on, don’t we (as taxpayers) still have a majority shareholding in the RBS group, including its subsidiary Natwest? Victoria Atkins, please note.