TSB has insisted that a £250 million investment programme in branch and digital banking services is proving successful – despite plans to close 17 branches across Scotland in June.
The bank has acknowledged that the branches set to be discontinued – three of which are in Glasgow – only serve around 200 people a week, or are located within one mile of an alternative branch. TSB have also insisted that these closures will not result in any job losses, with staff set to be offered positions in nearby locations.
It is also hoped that this will allow for greater investment in TSB’s busier branches.
All 17 branches on the chopping block will be closed in June this year. These include those located in Glasgow’s Maryhill, Charing Cross and Braehead areas, as well as Sighthill in Edinburgh; Cambuslang; Bridge of Allan; Dunblane; Beith; Troon and Dalry. Branches currently serving customers from locations in Cardenden, Kirriemuir, Linlithgow, Lochgelly, Tranent, Paisley’s Neilston Road and Woodside in Aberdeen will also shut their doors this summer as part of the bank’s strategy.
A statement from TSB said: “Whilst we continue to focus on upgrading the branches that people use the most, some locations are very quiet, serving fewer than 200 people a week, or where another branch is less than a mile away.
“As a result, we have decided to close 17 branches and focus our investment on those more popular locations.”
The decision has been taken as part of the bumper investment programme undertaken by TSB, with which 41 popular branches across the country have been refurbished and refitted over the last two years. A new branch was also opened in Aberdeen, costing £2m.
TSB are working to ensure that there is a branch within two miles of 72 per cent of the population – which is significantly higher than the average across the UK – while bolstering their commitment to a strong branch network.
It is also hoped that this investment programme will allow TSB to better accommodate customers whose banking habits are changing. TSB have acknowledged that the vast majority of their customers now choose to pay bills and carry out similar obligations online, with half of new current accounts opened in branch. The bank have said that many people also prefer to deal with issues such as mortgages or other complicated queries face to face.
TSB – founded in Ruthwell in 1810 by the Reverend Henry Duncan – also has an agreement with the Post Office which means that personal banking customers are able to use their local branch to check their balance, make cash withdrawals and make cash and cheque deposits.
Their success in catering to the changing banking landscape is manifest in TSB becoming Britain’s most recommended high street bank in 2016.
Carol Anderson, Scotland branch &and business banking distribution director at TSB, said: “Our presence and investment in Scotland remains strong and we’ll continue to make banking better for Scottish customers. That means investing in the branches that people are using and closing those that people just aren’t.
“We want the right branches in the right places and we’re also investing in our digital services. That way, we can continue to offer people the best of both worlds and meet their banking needs.”
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