Largs Bank of Scotland Closure

I am shocked to hear that Largs’ last remaining bank branch, Bank of Scotland (BoS), will close its doors in March.

This is a heavy blow to the many people and businesses who rely on the face-to-face services the bank has been providing for decades.

While not an ideal solution, a banking hub would ensure people in Largs can still see their bank’s representatives on a regular basis.

When I contacted LINK to request a banking hub for Largs, I was told that because “only” 8,996 adults live near the high street rather than 10,000 they do not recommend a banking hub and that its remit, regulated by the UK Government’s Financial Conduct Authority (FCA), is limited to assessing access to cash, not wider banking services.

Frustratingly, powers over banking have never been devolved to the Scottish Parliament.

In my speech in the Scottish Parliament today I highlighted the local frustration in Largs, West Kilbride, Skelmorlie, Fairlie and Millport about the BoS closure and called on the UK Government to change the arbitrary population thresholds and to finally extend the FCA’s powers to include access to wider banking services.

Please see my contribution by clicking on the above graphic.