The major banks have done a u-turn and say they're going to open more high street branches. HSBC, Halifax and Abbey are planning to open at least 50 branches each.

Andy Mowlah from the Forum of Private Business says it's "great news" for small businesses.

He added:

"Business owners place reliability, friendly staff, dealing with one person, convenient location and competitiveness of interest rates in the top ten of importance when dealing with banks.

"It is our members' experience that they can only receive this level of service when dealing face-to-face with their local branch manager."