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 Midlothian since the start of 2015, leaving just five remaining in the area.
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.
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Their data shows that between the start of 2018 and early March this year, the number of ATMs in Midlothian dropped from 78 to 51.
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”.
Economic secretary to the Treasury, John Glen, said: “We know that access to cash is still vital for many people, especially those in vulnerable groups.
“We promised we would protect it, and through this bill we are delivering on that promise.”
Full details on what will be included are yet to be published.
Which? welcomed the bill but said it “must ensure that clear requirements are placed on industry to meet communities’ need for cash”.
Its data found that nearly half (48%) of bank branches have closed since the start of 2015 and seven constituencies have seen every one of their banks closed in recent years.
LINK says that over 13,500 free-to-use ATMs have been cut from the UK’s network – a quarter of the 54,500 in operation at the start of 2018.