Banking Hubs: Rural and Post-Industrial Communities Debate
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Matt Rodda
Main Page: Matt Rodda (Labour - Reading Central)Department Debates - View all Matt Rodda's debates with the HM Treasury
Banking Hubs: Rural and Post-Industrial Communities
Matt Rodda Excerpts(1 day, 8 hours ago)
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Lucy Rigby
I was going through some of the changes in the landscape of banking, and will come to a slightly more negative aspect of that, if the right hon. Member will allow me to do so. I hope that will cover the substance of her question.
The most recent data from the Financial Conduct Authority shows that over nine in 10 adults banked online or used a mobile app in 2024. We also know, alongside the statistics on digital innovations that I just referred to, that around a quarter of adults carried out banking face-to-face in a branch over the same period. I put that alongside the statistics that the hon. Member for Caerfyrddin referred to about cash usage, which I will not repeat. I make no judgment about why I am a little old school on occasion with my attachment to cash, as she put it, but we know that many of those who still rely on in-person services are older customers and more vulnerable individuals. We also know that many businesses right across this country continue to depend on cash.
Matt Rodda (Reading Central) (Lab)
In my constituency, we have faced exactly the issues that the Minister highlights, and I am grateful for the work on this, in particular, on the needs of elderly people, which is being investigated by the Government, and those who are elderly and possibly frail, who find it difficult to travel on public transport. One of the issues we have faced is a lack of access to immediate parking and support for elderly people to get in and out of branches.