MSP Jackie Baillie has welcomed a stay of execution handed to Helensburgh’s RBS branch this week.
The banking giant has been forced into a temporary u-turn on plans to axe the Colquhoun Square branch on September 25th.
It comes amidst concerns over new Financial Conduct Authority rules guaranteeing access to cash in communities.
Now the regulations, which come into operation on September 18th, have seen the company forced to back down temporarily.
Over-the-counter banking services in the town have dwindled massively in recent years.
Spanish banking leader Santander closed their branch in 2019 and Bank of Scotland bosses followed through with the planned closure of the Kilcreggan site just weeks ago.
Bank of Scotland have also unveiled their intention to scale-back the opening hours of their branch in Helensburgh’s Colquhoun Square, leaving the town without a full-time bank.
RBS’s closest branch, in Dumbarton, also only opens during restricted hours on weekdays only.
The FCA has tasked banks and building societies with a requirement to assess cash access and understand whether additional points are required in communities where changes are being made to services.
There is also a need to deliver reasonable cash services where significant gaps are found.
The bank has now pledged to work with the industry and the FCA to provide further detail on availability of cash services in the area.
The branch will meantime, continue to operate during routine opening hours.
Commenting on the news, MSP Jackie Baillie said: “I am delighted that Royal Bank of Scotland will continue to provide services at their Helensburgh branch meantime.
“It is essential that communities are served by their banking institutions. They are customer-based services, which seems to be forgotten all too quickly.
“I have had talks with RBS bosses, alongside Cllr Fiona Howard and the local community, and have urged them to reconsider the decision to close the Colquhoun Square branch at all. I believe there is a need to maintain these services in the area, particularly given the high proportion of elderly residents.”
