Bank of Scotland claims 50% drop in business

The Bank of Scotland has confirmed it will be closing its Lochmaddy branch on February 26th, 2024.
In a statement issued to confirm its plans, Bank of Scotland said: “With more customers choosing to use digital ways to bank and manage their money, visits at this branch have fallen. As a result, we’ve made the difficult decision to close it.”

The bank says the decision follows ‘an in-depth’ review of operations that shows business at the branch has halved over the last four years.

The bank says the branch, which now only opens from 10am to 2.30 pm on a Tuesday and a Thursday, has seen a 64% drop in personal transactions since 2018. The number of people using the cash machine at the branch has fallen by more than 50% in the same time period. Bank of Scotland say the branch currently has only eight regular customers.

In support if its decision, the bank says Lochmaddy customers are already banking in other ways, citing that 71% of customers using Lochmaddy branch have also used other Bank of Scotland branches, Internet Banking or Telephone Banking and 33% have also used the Post Office.

Although the decision to close has already been taken, Bank of Scotland says it will now carry out a ‘Stage 2 Branch Review’, engaging the community to further understand the impact of closure.
Commenting on the announcement, MSP Alasdair Allan said:

“I am very concerned by the proposed closures of the Bank of Scotland’s branches in Tarbert and Lochmaddy. While many customers are now able to make use of digital and phone banking, there are many services which can only be carried out in-branch, and there can be technical issues with digital banking as well as lengthy and frustrating waits to speak with customer support teams over the phone. 
“After a taxpayer-funded bailout of £30 billion following 2008’s financial crash, surely the Bank of Scotland can do better than this for its customers, particularly a number of elderly or vulnerable users, for whom making the switch to online or over the phone banking could be extremely difficult.”

Cladach Chnoc a Lin resident Catherine Laing told Am Pàipear of her growing resignation at the loss of yet another service: “There was a time when I remembered each new service improvement with a sense of wellbeing. Services are being pared back time and again until we are left to survive on just the crumbs.

“Lochmaddy is a thriving place, with a port office, a busy shop, two hotels and an arts centre. With new houses bringing more people to the village, surely the decision merits a rethink.

“The service provision in Uist is appalling. We used to have daily flights; we used to have drains cleared every year to avoid flooding in winter. The verges are left untended and we cannot walk safely along our single track roads. So a bank closing its door is just another loss among many.”

Fears have also been raised that a pattern is repeating: “It’s the same situation we had with the post offices; first they start with reduced service hours, so customers find it harder to access the service and the powers that be then have the evidence they need to support a branch closure.”

Bank of Scotland listed two viable alternative branches for customers to consider; the first being Balivanich and the second being Portree, which is described as being 47.09 miles away, with the helpful advice that ‘Public transport to Portree requires a short walk to Lochmaddy Ferry Terminal, then a ferry to Uig Skye Ferry Terminal, along with a bus journey and short walk to the branch. Journey times are variable.’ Am Pàipear suggests readers may want to check that the Portree branch is open, the ferries are actually running and the weather is calm before heading out.

Western Isles MP Angus MacNeil has called for a change of heart:
“I have recently been contacted by constituents in North Uist who are concerned that the Lochmaddy branch is going to close. Customers living in Berneray, who do not have private transport, will have to make a 60-mile return trip by bus to access the bank in Benbecula.

 “The Bank of Scotland has listed the Portree branch along with the Benbecula and Stornoway branches, as an alternative for customers. It is crass to suggest that customers should take a ferry to access a bank.

 “I urge the Bank of Scotland to reconsider the decision to close the branches in Lochmaddy and Tarbert to ensure that my constituents continue to have access to the full range of banking services without the requirement to make lengthy travel journeys.”

Donald Cameron, Conservative MSP for Highlands and Islands, has also called for the branch to remain open.