TSB has announced plans to close 70 bank branches next year, putting 150 jobs at risk.
The bank said the latest closure was in response to reduced branch usage and more customers using digital services.
The closure, which runs from April to June 2022, will result in 150 job cuts but those employees will be offered alternative roles at the company.
TSB’s latest announcement comes after it’s announced a closure last year, when it closed 164 branches – or a third of its websites.
In November 2019, it closed 82 bank branches as part of program closed.
It has accelerated its closure plan due to the pandemic’s impact on banking and people’s shopping habits as more and more consumers move online.
Following today’s announcement, TSB will be left with 220 sites across the UK.
TSB chief customer officer Robin Bulloch said: “Closing a branch was an extremely difficult decision to make, but we had to respond to changes in the way people bank and provide the right mix of services. suitable for all of our customers now and in the future.
“These changes allow us to maintain a nationwide branch presence.
“They come with a substantial investment program to upgrade branches to better suit customer needs. And, if it takes longer to get to the nearest branch, we’ll be recommending more. more ‘pop-up’ service in the community.”
Branches that will be closed do one-third fewer transactions than the TSB national average, the company said.
It added that there is a Post Office or free ATM use within a mile of each location.
TSB said it won’t close this morning, it’s the only bank left in town, and it will open 10 more pop-up branches.
Those pop-ups will be in Bis Bishop Stortford, Camberley, Fort William, Greenwich, Harlesden, Louth, Redcar, Stranaer, 5tho and Tunbridge Wells.
TSB isn’t the only UK chain branch to close.
Other companies are also reducing their presence on the streets as more Britons turn to online banking.
Last month Lloyd’s and Halifax said it would close 48 locations, having announced the closure of 100 locations by 2021.
Virgin Money announced in September that it will close 31 branches because it “adapts to changing consumer needs”.
Santander closes 111 locations Before August of this year, it had 425 banks nationwide.
Which bank branches does TSB close?
- Bishop’s Stortford
- Bury St Edmunds
- Cle opensys
- Fort William
- Magdalen Street
- Market Hill
- Melton Mowbray
- Newton Aycliffe
- Tunbridge Well
- West End
- Wooden chairs
We pay for your stories!
Do you have a story for The Sun Money team?
https://www.thesun.co.uk/money/16893520/tsb-to-close-70-branches-full-list/ TSB closes 70 branches