A VITAL service in the Largs community has been given a temporary stay of execution thanks to new regulations.

The Royal Bank of Scotland (RBS) branch in the town's Main Street was due to close on October 3 despite public opposition.

Now the bank, owned by NatWest, has had to pause plans with new Financial Conduct Authority rules guaranteeing access to cash in local communities.

Regulations came into force on September 18 and Kenneth Gibson MSP welcomed the stay, stating that people should not be financially excluded.

But RBS said they were still going to shut the branch.

A Royal Bank of Scotland spokesperson said: “To ensure we are supporting customers in the local area, we are now in discussions with LINK to assess whether the community’s needs will still be met once the branch closes.

"This branch will now remain open until discussions have concluded."

When the bank announced the plans earlier this year, they claimed too few people used the branch in person and that residents could simply go to the nearest alternatives - in Greenock or Irvine.

And according to the 'closure factsheet' report prepared by the company, there were 10 personal customers who used the branch weekly last year and 106 business customers monthly.

Mr Gibson has said that more needs to be done to prevent "financial exclusion" and will press the UK Government on this.

READ MORE: Royal Bank of Scotland reveals closing date for Largs branch

He said: “I welcome this stay of execution for the Largs branch.

“I know how important this branch is to our community, especially given the number of elderly and vulnerable residents around Largs who rely on local banking services.

“The closure would have meant that the nearest RBS branches to Largs residents would have been Greenock and Irvine, with the banking hub at Kilwinning available to RBS customers on a Tuesday.

“The UK Government - to which banking is reserved- needs to have a much firmer hand to ensure banks stop their retreat from the high street and ensure people do not face financial exclusion. 

“I will certainly press them on this.

“When our MP, Patricia Gibson secured a Westminster debate on banking in North Ayrshire and constantly raised the importance of retaining access to cash.

“Whether the new Labour UK Government intends to do more than the Laissez-faire approach of the Tories remains to be seen.”