A Highlands MSP has launched a UK Parliament petition calling for urgent reform of banking hub rules, warning that too many rural communities are being left without access to essential financial services.
Maree Todd, who represents Caithness, Sutherland and Ross, is pressing for changes to rules set by the Financial Conduct Authority and eligibility criteria used by LINK to determine where shared banking hubs are established.
She argues the current system favours towns with larger retail footprints while overlooking smaller communities that act as service centres for wide rural catchments with no nearby banking provision.
The MSP says the framework fails to account for the unique geography of the Highlands, where long travel distances, limited public transport and patchy digital connectivity can make access to banking services especially difficult.
She is calling on the UK Government to ensure factors such as ageing populations, poor internet access and geographic isolation are given greater weight in decisions, in order to prevent financial exclusion.
The petition follows confirmation that the Bank of Scotland is set to close its branches in Tain and Gairloch.
Maree Todd said an Access to Cash Review identified vulnerabilities within the local population but still failed to recommend replacement banking provision.
“Across the Highlands, communities are increasingly losing access to essential banking services.
“This exposes serious flaws in the current system.
“The criteria must be strengthened, giving more weight to ageing populations, limited internet access, and geographic challenges.”
She pointed to the shared banking hub that opened in Wick last year as evidence that the model can work when applied properly.
“Shared banking hubs have proven effective where local banks have closed.
“It serves the community well and provides access to banking services for residents who would otherwise have to travel long distances.
“The current criteria is far too narrow.
“I am urging the Financial Conduct Authority, through this petition, to reform the criteria so that the communities I represent and those across the Highlands can access the financial services they need.”
She encouraged people across Scotland and beyond to add their names.
“Every signature helps ensure Westminster hears the voices of rural communities and takes action to prevent further loss of financial services.”
To sign the petition click here
