More than half of banks in Montgomeryshire have closed since 2015, while the figure in Brecon and Radnorshire is even higher, new figures show.

Analysis from consumer champion Which? has shown a sharp decline in the number of bank branches open in areas across much of the UK compared to seven years ago.

According to figures up to the end of April, nine banks have been shuttered in Montgomeryshire since the start of 2015, leaving eight remaining in the area.

And three in five Brecon and Radnorshire banks have closed over the same period, with 15 having shut their doors, leaving only 10 remaining.

Separate figures from LINK, a cash machine network, show there has also been a decline in the number of free-to-use ATMs across the UK in recent years.

Their data shows that between the start of 2018 and early March this year, the number of free cash points in Montgomeryshire dropped from 39 to 32.

OTHER NEWS:

The number of ATMs in Brecon and Radnorshire dropped from 63 to 38.

The increasing use of online banking and contactless payments have led to concerns some will be left behind, or unable to access key services.

Which? chief executive, Anabel Hoult, said: “While the pandemic has accelerated the move to digital payments for many consumers, many are not yet ready to make that switch and require protection from an avalanche of ATM and bank branch closures that have left the UK’s cash system at risk of collapse.”

A bill to protect access to cash was announced as part of the Queen’s Speech in May.

The Treasury says the new legislation will ensure “continued access to withdrawal and deposit facilities across the UK”.

Recent research by the Royal Society of Arts estimates 10 million people in the UK would struggle in a cashless society.