DIGI Payment Choice Alliance Chair Ron Delnevo on bank branch closures
GBNEWS
The move comes after TSB announced plans last May to cut 250 jobs from its fraud and central operations departments
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TSB has announced the closure of eight bank branches across the UK, all set to shut their doors on the same day.
This latest round of closures follows news of 28 sites shutting down September last year, which included locations in London, Torquay and Edinburgh.
The latest eight closures will all take place on May 15.
A TSB spokesperson said: "Our customers are now doing most of their banking digitally, and we need to move to a better balance of digital and face-to-face services.
"We remain committed to a national branch network and through innovation and integration with video, telephone, digital, branch and other face-to-face services TSB customers have more ways to bank with us than ever before.
Eight closures on May 15 include:
- Bude
- Crook
- Aylsham
- Flint
- Whitchurch
- Amble
- Tenbury Wells
- Bedlington
To offset these closures, TSB has announced plans to open six new banking pop-ups in Lerwick, Stornoway, Aylsham, Bude, Flint and Tenbury Wells.
The bank will also launch two TSB pods in Workington and Torquay, which will provide ATM services and advice on banking queries.
These new pop-up locations will offer services including general product enquiries, help with managing existing payments, and support for internet and mobile banking.
Most pop-up sites will not offer cash or counter services, with Nottingham being the only location providing cash deposits and withdrawals.
Following these latest closures, TSB will maintain 175 branches across the UK.
This latest round of closures follows a pattern of branch reductions by TSB in recent years.
In September 2020, the bank announced the closure of 164 branches, resulting in 900 job losses.
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A further 70 branch closures were revealed in November 2021, leading to 150 redundancies.
The bank has steadily reduced its high street presence, with last year's closure of 28 sites being part of a broader announcement that included all 36 branch closures planned through 2025.
Customers affected by the closures have several alternative banking options available.
The Post Office network offers most basic banking services, though new accounts and loans aren't available through this channel.
Mobile banking services are provided by some banks, with specially equipped buses visiting local areas to offer branch-like services.
Banks may also utilise community spaces such as village halls or libraries to deliver banking services. Customers are advised to contact their bank directly to learn about available services and scheduled visits to their area.