Menu
02/05/2024
Banks Urged To Protect NI Local Branch Network
Northern Ireland's Finance Minister has urged banks to protect their local branch network and ensure communities impacted by branch closures are able to access banking services.
Finance Minister Dr Caoimhe Archibald MLA made the call following a roundtable meeting with representatives of high street banks and UK Finance, LINK and Cash Access UK to discuss the importance of rolling out banking hubs to areas impacted by branch closures.
Speaking afterwards, Minister Archibald said: "I am concerned about the societal impacts branch closures are having on communities – particularly in hard to reach rural areas – and also the impact on staff.
"While there is a trend in many banks towards digital banking, losing a branch, or indeed several, can be a massive blow for any community – urban or rural. It is, therefore, essential that banks cater for customers in impacted communities - particularly the elderly or those on low incomes - who are reliant on branch banking and ATMs for cash and other basic banking services.
"It is important that banks work with customers in impacted towns who struggle to access digital services to make sure they have access to over the counter services, free to use ATMs and staff who have a particular knowledge of the local area and individual customers’ banking needs.
"It is vital too that banks proactively work with customers to encourage digital and financial literacy."
The meeting, facilitated by UK Finance, enabled the Minister to hear about plans for the rollout of banking hubs in Comber, Newcastle, Warrenpoint and Portrush.
The first hub opened in Kilkeel at the end of 2023 with staff from the high street banks providing over the counter services on designated days to personal and business banking customers.
The Minister said: "I welcome the opportunity to discuss the banking hubs and how they could be further rolled out to other communities right across the North.
"While the regulation of the banking sector is a Reserved Matter for the British Government, I will continue to engage with banking representatives as well as the Credit Unions, Post Office, trade unions, business bodies, consumer and community organisations and also the Treasury and the regulatory authorities to see how the sector can best support customers."
Finance Minister Dr Caoimhe Archibald MLA made the call following a roundtable meeting with representatives of high street banks and UK Finance, LINK and Cash Access UK to discuss the importance of rolling out banking hubs to areas impacted by branch closures.
Speaking afterwards, Minister Archibald said: "I am concerned about the societal impacts branch closures are having on communities – particularly in hard to reach rural areas – and also the impact on staff.
"While there is a trend in many banks towards digital banking, losing a branch, or indeed several, can be a massive blow for any community – urban or rural. It is, therefore, essential that banks cater for customers in impacted communities - particularly the elderly or those on low incomes - who are reliant on branch banking and ATMs for cash and other basic banking services.
"It is important that banks work with customers in impacted towns who struggle to access digital services to make sure they have access to over the counter services, free to use ATMs and staff who have a particular knowledge of the local area and individual customers’ banking needs.
"It is vital too that banks proactively work with customers to encourage digital and financial literacy."
The meeting, facilitated by UK Finance, enabled the Minister to hear about plans for the rollout of banking hubs in Comber, Newcastle, Warrenpoint and Portrush.
The first hub opened in Kilkeel at the end of 2023 with staff from the high street banks providing over the counter services on designated days to personal and business banking customers.
The Minister said: "I welcome the opportunity to discuss the banking hubs and how they could be further rolled out to other communities right across the North.
"While the regulation of the banking sector is a Reserved Matter for the British Government, I will continue to engage with banking representatives as well as the Credit Unions, Post Office, trade unions, business bodies, consumer and community organisations and also the Treasury and the regulatory authorities to see how the sector can best support customers."
Related Northern Ireland News Stories
Click here for the latest headlines.
11 October 2016
Minister Slammed For Failing To Provide Figures On Number Of Foodbanks
The SDLP has hit out at the Minister for Communities after he failed to provide figures on the number of foodbanks in Northern Ireland or the number of people using them. SDLP Foyle MLA Mark H Durkan said Minister Paul Givan "boasted" about everything he is doing to support food banks, however he was unable to confirm how many of them exist in NI.
Minister Slammed For Failing To Provide Figures On Number Of Foodbanks
The SDLP has hit out at the Minister for Communities after he failed to provide figures on the number of foodbanks in Northern Ireland or the number of people using them. SDLP Foyle MLA Mark H Durkan said Minister Paul Givan "boasted" about everything he is doing to support food banks, however he was unable to confirm how many of them exist in NI.
21 August 2013
NI Retailers 'Satisfied' With Local Banks
The majority of independent traders in Northern Ireland say they are satisfied with the services provided by local banks, according to a new report.
NI Retailers 'Satisfied' With Local Banks
The majority of independent traders in Northern Ireland say they are satisfied with the services provided by local banks, according to a new report.
23 February 2011
Northern Invests In Landmark Derry Branch
One of Nl's leading banks is putting its 'money where its mouth is' by investing £2m in a refurbishment of the Northern Bank's Shipquay Place branch in Londonderry. The renovations of the landmark, listed building will include full repairs to the external stonework and the creation of a new ramped access.
Northern Invests In Landmark Derry Branch
One of Nl's leading banks is putting its 'money where its mouth is' by investing £2m in a refurbishment of the Northern Bank's Shipquay Place branch in Londonderry. The renovations of the landmark, listed building will include full repairs to the external stonework and the creation of a new ramped access.
28 April 2006
NI bank customers are paying more
A report by the Competition Commission (CC) has revealed that Northern Ireland bank customers are paying higher charges for current accounts than those in the mainland. The CC report claims that this is due to a lack of competition between the four main banks in the province - Bank of Ireland, Ulster Bank, First Trust and Northern Bank.
NI bank customers are paying more
A report by the Competition Commission (CC) has revealed that Northern Ireland bank customers are paying higher charges for current accounts than those in the mainland. The CC report claims that this is due to a lack of competition between the four main banks in the province - Bank of Ireland, Ulster Bank, First Trust and Northern Bank.
12 December 2013
Ulster Bank Suffers Further Disruption
Ulster Bank has apologised for further disruptions to its services, after a "cyber attack" on sister company NatWest left many customers without wage payments and unable to access online services. The disruption follows problems that occurred last week, leaving customers unable to use their debit or credit cards.
Ulster Bank Suffers Further Disruption
Ulster Bank has apologised for further disruptions to its services, after a "cyber attack" on sister company NatWest left many customers without wage payments and unable to access online services. The disruption follows problems that occurred last week, leaving customers unable to use their debit or credit cards.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
