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With The Last Bank Branch In Wick To Close Some Businesses Worry About Cash

3rd July 2024

Photograph of With The Last Bank Branch In Wick To Close Some Businesses Worry About Cash

Change in your pocket or purse is something we think about only when we need to but businesses need it almost every day. With Bank of Scotland proposing to close the last bank branch in Wick next year will cash be hard to come by without a trip to a branch in Thurso.

The Post Office wick is only open four days and may not be able to handle many requests to deposit or with draw cash. Even if they do have you ever been stuck in the queue while a business deposits loads of small change. Then the queue at Christmas time competing with customers trying to send parcels.

What about the Wick Gala committee that each year gathers thousands of pounds of change from generous people in the town on Gala night and the rest o the wake. Each year it goes in a truck as it weighs over a ton. Will the committee have to take it all to Thurso?

The bank proposes to set up banking hub one day week to discus banking issues for customers. No mention yet if that will do cash transactions.

What about may small payments done in cash i here is shortage in the area. Will sales collapse in some businesses or will they be forced to take card payment for very small amounts that in tune adds costs?

Some surprising businesses need small change - for example Bill recently visited the dentist who said they need change to give for some people paying their bill with cash They also need to pay in the cash they take in over the day. Most businesses may have a similar issue unless they are large enough to have their own system for dealing with cash.

On 19th January 2024 a paper in the House was posted online in the House of Lords library -
Closure of high street banks - Impact on local communities