There has been widespread condemnation to the swathing cuts the banks are making particularly in rural areas.Despite this RBS paid 16 million in bonuses to executives last year - almost twice the amount it will make from selling off branches in many parts of the country.

Mary Alexander, Unite’s deputy Scottish secretary, claimed the bank was “wreaking havoc”.She said: “We have looked at the books. In 2016, RBS paid directors and top executives £23.4million in salaries, bonuses and share options.

“Nice work if you can get it. So now, for a sell-off that will bring in less than a third of what those fat cats are taking home every year, they are wreaking havoc across Scotland.

“RBS – the bank for wrecking communities, wrecking local businesses and slaughtering vital jobs. Who are these people? Scotland needs to stand up and say no.”

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News that 20 banks across Wales are to be closed in 2018 has sparked criticism from the Farmers’ Union of Wales, who describe the closures as devastating news for rural businesses.

The NatWest bank branches facing closure are Porthcawl, Whitchurch in Cardiff, Llandaff in Cardiff, Pembroke, Treforest Estate, Ammanford, University Hospital of Wales in Cardiff, Cardigan, Cowbridge in the Vale of Glamorgan, Dolgellau, Chepstow, Lampeter, Maesteg, Pencoed, Llandeilo, Rumney in Cardiff, Milford Haven, Talbot Green, Mumbles in Swansea and Narberth.

This latest announcement will bring the total to 259 branches — 62 RBS outlets in Scotland and 197 NatWest sites in the rest of the UK — leaving it with 744 branches across the country.

Reacting to the Welsh closures FUW President Glyn Roberts said: “The closure of those 20 banks will have a detrimental effect on the towns, as they serve not only villages but many of the neighbourhoods in surrounding areas, as well as providing employment to local people.

“These banks are 70% owned by the UK taxpayer, so we have to ask why are there no conditions to the bailout that guarantees access to such services. It is clear that Governments must do more for rural Wales.”

In addition the FUW is concerned that internet banking is still not option in all rural areas across Wales as many people will not have an appropriate internet connection- if they have a connection at all, and others may be worried about banking online for cyber security reasons.

“We have run cyber security workshops in co-operation with Barclays bank over the past few months, which should help our members become more savvy internet bankers, however the problem of internet access remains a huge problem for these rural areas.

“With more and more rural services and businesses being closed down, we must also acknowledge that it is becoming less and less attractive for young families and indeed business owners to remain in rural areas.

“If the problem of rural depopulation is not addressed with some urgency it could have severe consequences for our rural communities and with that also our rural economy.

“It is clear that if we want to ensure that Wales develops its full potential in being a rural economic powerhouse, we must make it attractive for working families to stay and also encourage vital services like business banking to remain available,” added Mr Roberts.

Carmarthen East and Dinefwr MP Jonathan Edwards said the closures were "extremely disappointing news", especially for rural communities.

The closure of five more Royal Bank of Scotland branches in Perth and Kinross,Aberfeldy,Perth South Street,Comrie and Kinross has also been greeted with anger.

Perth and North Perthshire MP, Pete Wishart, said he was “hugely disappointed” by the news and the impact it would have locally.

 “The announcement that both Highland Perthshire branches are to close will be devastating for personal banking customers but will be a substantial loss for business banking customers who rely on counter service to operate,” said the SNP politician.

Paul Wheelhouse, Scottish government minister for business, innovation and energy, said the move could leave “large areas of Scotland, particularly rural areas, with limited branch coverage”.

Andy Willox, FSB's Scottish policy convenor, added: "While many small businesses use online banking, that doesn't mean they don't handle cash, and therefore need to visit a branch.

"..many of the branches under threat are in parts of the country with particularly poor mobile and broadband coverage- a fact to which RBS seem to be paying scant regard".

Mike Cherry, chairman of the Federation of Small Businesses, said: “…many small businesses — particularly those in rural areas with poor broadband access — relied on their local bank branches to seek personal advice as well as to deposit their cash takings”.

The bank said the closures were due to changes in the way people use its services.