The Bank of Scotland plans to close its Annan branch by March 2026, citing a rise in digital banking usage as the main reason.
Annan: The Bank of Scotland is closing its branch in Annan next year. They plan to shut it down by March 2, 2026. This decision comes as more people use mobile and online banking.
Branches in Moffat, Thornhill, and Sanquhar will also close. The bank said they look at how customers use branches before making such decisions. They found that most customers prefer using their mobile app or calling instead.
To help, a banking hub is planned for Annan. This hub will be a shared space run by the Post Office. It will allow customers from any bank to do their banking tasks.
Politicians are upset about the closures. MP David Mundell expressed his anger, saying it hurts local communities. He believes this shows the bank is giving up on rural areas.
Between 2019 and 2024, transactions at the Annan branch dropped significantly. Personal transactions fell by 37%, and business transactions dropped by 40%. All affected workers will be offered new roles.
Banking Hubs Explained
LINK, the UK’s cash access network, announced Annan will get a banking hub. This hub will help protect cash access in the area. It will work like a traditional bank but be open to everyone.
Customers can withdraw and deposit cash, pay bills, and do regular banking tasks. There will also be private spaces for more complex banking needs. Different banks will have staff available on different days.
Dr. Chris Ashton from LINK said many still rely on cash and face-to-face banking. He believes these hubs will be vital for local communities.
Politicians Left Concerned Following Announcement
South Scotland MSP Colin Smyth criticized banks for abandoning communities. He thinks job opportunities for staff will be limited. Fellow MSP Emma Harper is worried about the accessibility of the new banking hubs.
Smyth said banks are driving customers away by reducing services. He welcomes the government’s commitment to banking hubs but feels it’s too late for many areas.
Harper emphasized that these branches are crucial for local residents. She is concerned about the impact on those who rely on in-person banking, especially older people.
She is seeking a meeting with the Bank of Scotland to discuss the closures. She encourages constituents to reach out to her about their concerns.
