IT IS proving to be quite a year for high street bank closures.

Continuing a trend that has been accelerating in recent years, 2017 started with the announcement that over 40 Clydesdale Bank branches were being axed while 182-year old Airdrie Savings Bank decided to shut down altogether.

Lloyds Banking Group soon followed suit, revealing the locations of the 100 branches it had previously announced would close by the end of 2017. Of the total, 24 come under the Bank of Scotland banner, with communities from Helmsdale in the north and Wigtown in the south being affected.

And at the end of last month, while confirming that 30 Scottish branches would close amid a total UK shutdown of 158, Royal Bank of Scotland chief executive Ross McEwan warned that with larger numbers of customers choosing to bank digitally further closures would be on the cards.

As more people choose to do their banking online it makes sense for the banks, which have been ploughing millions into developing top-notch digital services, to want to rationalise their branch networks.

But for those who either cannot or do not want to embrace online banking – typically elderly people - the moves have come as a blow, with research from financial services company Saga finding that a fifth of those over 50 rely on access to a local bank because they do not bank online.

People in their 80s in particular felt that a local branch closure would have an impact on them, with almost half saying that most financial transactions would become impossible for them.

The result, according to the research, is that around 5.5 million over 50s will be forced to switch to a new provider, bringing to an end what for some will be several decades of brand loyalty.

The problem is that in rural areas in particular there may not be another local bank to switch to.

Which is where the Post Office could step in. At the beginning of this year the company signed a deal with all the leading UK banks that allows their customers to deposit or withdraw cash and check balances in every Post Office branch across the UK.

According to the Post Office, which has 1,400 branches across Scotland, this means that practically all UK account holders will be able to undertake basic banking transactions in close proximity to their home.

“Over 99 per cent of people live within a mile of a Post Office branch - there is no fee for the service and a similar service operates for business account holders,” a spokeswoman said.

“Post Office branches provide a lifeline to people living in rural locations or less affluent areas in towns and cities where the last bank branch in the area has closed.”

Although the Post Office has undergone its own series of closures in recent years, with 37 branches, of which four are in Scotland, earmarked for closure at the start of this year, the spokeswoman said its network “is at its most stable for decades”.

“Over the past five years we have invested heavily in our branches, refurbishing thousands of branches, offering customers longer opening hours often seven days a week,” she said.

“Through investing in our network we are ensuring that our branches remain at the heart of communities, not just for today’s customers but for future generations too.”

Another option that could be open to anyone wanting to maintain a face-to-face service is to open a current account with Tesco Bank, one of the newest players in the market.

While the bank has no branches and conducts the bulk of its business online, it offers a counter service to customers in 296 stores across the UK, something the bank’s managing director David McCreadie said will enable customers to “easily and conveniently manage their finances”.

Of the 38 Scottish stores offering the service, some are based in rural areas such as Inverurie, Thurso and Ullapool, with island communities in Stornoway, Lerwick and Kirkwall also being served.

While this will go some way to alleviating the situation for those who want to continue with face-to-face rather than online banking, Saga’s Lisa Harris said the onus should be on the mainstream banks themselves to ensure loyal customers can continue to be served in a way that is convenient for them.

“It is clear that access to a local high street bank is important for the over 50s, particularly for the older generations who are less likely to bank online and more likely to find it difficult to travel further afield,” she said.

“Many over 50s will have held an account with the same bank for a number of years and will find the switching process stressful.

“More needs to be done by the banks to ensure they maintain a high street presence, particularly for their loyal customers.”

With the banks ploughing ahead with closures and devoting all their energies to developing their online services, though, quite how this high street presence could be maintained is difficult to see.