The 115-year-old building, home to the city's Primark store, was gutted by a major blaze last week.
Local traders reacted with anger following news that a cordon around the site would be in place for a minimum of four months, with some businesses calling for the remaining façade to be torn down.
However, RSUA President Joan McCoy stated while organisation believes the time period for the cordon does seem excessive, demolishing the façade was not the answer.
"Following the fire at Bank Buildings it is vitally important for Belfast that a solution is found that allows all traders in the city centre to return to something close to normality over these key months in the run up to Christmas," she said.
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"We do not believe this will require the demolition of the façade of the Bank Buildings. The current proposals for an extensive exclusion zone being in place for four months seems excessive and we are seeking details of why this is deemed necessary.
"At this stage we see no reason why the facade cannot be externally supported and a reduced cordon put in place. Whilst this would not allow for vehicle movement in the area, importantly it would enable the flow of people."
Continuing, Ms McCoy said the RSUA proposes pedestrianising the whole of Royal Avenue, as well as Castle Place and part of Castle Street, in order to enhance the area and bolster trade, in addition to reducing the size of the cordon.
"We would also encourage Belfast City Council and the appropriate Government Departments to work with other bodies to enhance and enliven the streetscape during this period," she said.
In a statement, Belfast City Council said the four-month period "is not solely defined by the fact this is a listed building".
"Any opportunity to shrink this timeline will be taken," the council said.
"Over the coming days, engineers will be assessing the site before drawing up a plan for next steps which could include building a bracing solution to secure Bank Buildings. Only then will it be possible to determine if the façade can be saved."
(LM/MH)
