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RBS post office move sparks talk of branch closures | RBS post office move sparks talk of branch closures |
(2 days later) | |
The Royal Bank of Scotland (RBS) has announced that customers are going to be able to use more facilities at the network of UK post offices. | The Royal Bank of Scotland (RBS) has announced that customers are going to be able to use more facilities at the network of UK post offices. |
From later this year, customers of RBS and sister bank NatWest will be able to pay in money at branches - they can already withdraw cash. | From later this year, customers of RBS and sister bank NatWest will be able to pay in money at branches - they can already withdraw cash. |
The scheme is being publicised five days before the bank's annual results. | The scheme is being publicised five days before the bank's annual results. |
But RBS has refused to comment on speculation that the announcement may be linked to further branch closures. | But RBS has refused to comment on speculation that the announcement may be linked to further branch closures. |
Last year the bank admitted that the number of transactions taking place in branches had fallen by 30% between 2010 and 2013. | Last year the bank admitted that the number of transactions taking place in branches had fallen by 30% between 2010 and 2013. |
A spokeswoman told the BBC that any closure decisions would be taken on a case-by-case basis, for example "if footfall had reduced". | A spokeswoman told the BBC that any closure decisions would be taken on a case-by-case basis, for example "if footfall had reduced". |
"If we do close a branch, we make sure customers will still have some banking facilities locally, like a post office or a cash machine," she said. | "If we do close a branch, we make sure customers will still have some banking facilities locally, like a post office or a cash machine," she said. |
RBS closed more than 80 branches last year and is expected to close more. | RBS closed more than 80 branches last year and is expected to close more. |
Its chief executive, Ross McEwan, said the bank had 10% too many branches. | Its chief executive, Ross McEwan, said the bank had 10% too many branches. |
Analysts do not expect RBS to specify a number of future branch closures next week. | Analysts do not expect RBS to specify a number of future branch closures next week. |
However, some believe that the decision to give customers more facilities in post offices could make it easier for RBS and NatWest to close some High Street operations. | However, some believe that the decision to give customers more facilities in post offices could make it easier for RBS and NatWest to close some High Street operations. |
"It will, at the margin, reduce footfall further in branches, so it further facilitates reductions over time," said Ian Gordon, banking analyst with Investec. | "It will, at the margin, reduce footfall further in branches, so it further facilitates reductions over time," said Ian Gordon, banking analyst with Investec. |
Customers of most UK banks already have access to banking facilities at 11,500 branches of the Post Office. | |
All are open until at least 12:30 on Saturdays, with many opening longer. | All are open until at least 12:30 on Saturdays, with many opening longer. |
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