People in Scotland spend the most time travelling to their local bank, at an average of 29 minutes to reach their nearest branch.
The research, commissioned by Newcastle Building Society, found that while the average commute time for people in Scotland was just under half an hour, for 23.5%, a round trip to their local branch took over an hour; with the average round trip costing £8.
The average UK adult visits their branch in-person twice a month, while 14% go once a week.
Once a common sight on every high street, since 2015 57% of Scotland’s bank and building society branches have closed, or are set for closure in the coming year.
Michael Conville, acting chief customer officer at Newcastle Building Society, said: “Our recent study shows the stark reality that, as the number of bank and building society branches closing increases, a growing proportion of UK residents have to travel more significant distances, at increasing expense, to reach their local financial services and access cash.
“This rise in branch closures is a concern for many as the trend continues throughout the UK and more communities become cut-adrift.”
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