Government to review access

to in-person banking services

A review of access to in-person banking services is under way, with the government keen to hear about the experiences of people living in rural areas.

The call for evidence was made as part of a wider independent review, which aims to determine whether the decline of physical banking as a whole has had a negative impact on customers.

Creating a more level playing field when it comes to accessing essential services is one of the key themes of ACRE’s five-year strategy for enabling rural communities to thrive.

Richard Lloyd OBE, a former director at consumer group Which?, has been appointed by the government to oversee the review and deliver a report of its findings.

He said: “Banking is an essential service needed by every consumer, community and business in the UK.

“The Access to Banking Review wants to gather the best possible up-to-date evidence of the challenges faced by those who need in-person banking services.

“This evidence will help to establish the impact of changing services, identify who is most affected, and underpin our assessment of what further action may be required.”

A 2024 report by the Financial Conduct Authority showed that approximately 64 per cent of the country’s rural population did not have a bank or building society within three miles of their address, making access to in-person financial services out-of-reach for thousands of people.

Evidence gathered as part of the review, including that which has come from rural sources, will be used to assess customer needs, understand the level of detriment and identify recommendations for change.

The initial findings are expected in October, and ACRE hopes there will be actions and recommendations that specifically address the concerns of the country’s rural population.