Framlingham business owners condemn bank branch closures

Barclays closed its Framlingham branch in August 2023

Business owners in a town have condemned the closure of bank branches, with one calling them a "huge error".

Framlingham in Suffolk lost its last bank - Barclays - in August 2023.

Suzie Grogan, who runs a shop in the town, said closures affected whether high streets thrived.

A spokesperson for UK Finance, which represents the banking and finance industry, said more people used alternative banking methods and fewer visited bank branches regularly.

New research from consumer group Which? estimates nearly three million people will live in a Parliamentary constituency without a bank branch by the end of 2024.

Which? said its research indicated that 30 constituencies would be affected.

Karen Haynes said the bank was always busy and the closure was an issue for older people or those unable to travel

Karen Haynes, of the Framlingham Toy Shop, which is also home to the town's post office, said the predicted closure statistics were "absolutely appalling".

Ms Haynes said: "We can use the post office to bank as a business, which is a help in that respect, but there's also a lot of older people [who] don't travel, don't have a car and don't do online banking. It's very difficult for many people, I think.

"They said the local bank wasn't used enough, but every time we went up there to go and get change or pay in money, the queue meant you'd be up there for 20 minutes to half an hour, so it obviously was being used.''

Listen: Framlingham- The town without a bank

Bill Bulstrode said the forecast that millions of people would not have access to a physical bank was "absolutely appalling"

Speaking of the closure predictions, Bill Bulstrode from the shop said: `"[It's] absolutely appalling... There ought to be a bank. We had three in Framlingham at one time... two in the last few years and now they're both gone.''

Ms Grogan, of the Framlingham Bookshop, said: "Once there gone, they're gone, and banks make an extraordinary difference as to whether or not a high street thrives, so I think it's a huge error and it'll always be the people who need it the most who will suffer."

Suzie Grogan said banks made an difference to whether or not a high street thrived

Which? said more than 5,800 bank and building society branches have closed since 2015.

It said alternatives, such as banking hubs, could help plug the gaps, but they were being rolled out too slowly.

Referring to alternative banking methods, the UK Finance spokesperson said: "Significant ongoing investment is being made to deliver this commitment, including shared banking hubs, free ATMs and cashback without purchase."