SHUTTERS DOWN
TSB to close 36 bank branches starting this month – see if your local is affected
Full list of branches that will be closed between September 2024 and May 2025
TSB is to close 36 branches starting this month as banks continue to move away from the high street.
The mass closures follow the shuttering of nine TSB sites in 2023 and will see hundreds of jobs lost.
1
The first of the 36 sites will close on 3 September, when branches in Bedworth, Banff and Stornoway shut their doors for good.
The closures will continue through to May next year.
Twelve of the 36 sites earmarked for closure have no other branches nearby, according to analysis by ATM provider Link.
As well as shuttering sites TSB is axing 250 jobs in its fraud and central operations departments, as well as those in the branches earmarked for closure.
READ MORE IN MONEY
Announcing the closures in May a TSB spokesman said: "The decision to close a branch is never taken lightly, but 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."
The following locations are set to close in September 2024:
- Alloa
- Bedworth
- Birmingham, Pype Hayes
- Bridlington
- Buxton
- Carmarthen, Blue Street
- Cwmbran, General Rees Square
- Dovercourt
- Edinburgh, Leith
- Felixstowe
- Frome
- Glasgow, Cardonald
- Glasgow, Castlemilk
- Haddington
- Hounslow
- Lerwick
- Leven
- London, Bethnal Green
- London, Clapham
- Longton
- Manchester, Middleton
- Newcastle Upon Tyne, Milvain
- Peterhead
- Sheerness
- Stornoway
- Torquay, St Marychurch
- Whitehaven
Most read in Money
The following are set to close in May 2025:
- Amble
- Aylsham
- Banff
- Bedlington
- Bude
- Crook
- Flint
- Tenbury Wells
- Whitchurch
Switch bank accounts for free perks
TSB has said it will be opening six new pop-ups in Lerwick, Stornoway, Aylsham, Bude, Flint and Tenbury Wells to bring mobile banking services to communities without alternatives.
Two TSB pods will be opened in Workington and Torquay, offering an ATM service as well as advice on product and banking queries.
TSB will have 175 branches across the UK after the latest round of closures.
Back in September 2020, the bank said that it would close 164 branches, resulting in 900 job losses.
In November 2021, it announced plans to close 70 more bank branches, leaving 150 people without jobs.
The closures come as big banks look to move more of their services online.
Other big lenders have also been shutting their branches in droves, including HSBC, NatWest, Lloyds, Virgin Money and Halifax.
Banks and building societies have shut around 6,000 branches since 2015 — at a rate of 54 each month — to almost half the number of branches that existed a decade ago.
Since 2022 almost 1,500 branch closures have been announced, according to data from LINK, with 174 further closures slated for the remainder of 2024.
Barclays has shrunk its network the most, with more than 1,100 branches closed, followed by NatWest, Lloyds and Santander, according to Which? data.
Closures can cause headaches for locals who have to travel further to access services or switch to alternative providers.
Closures have followed a shift in the way people access banking services with most customers using online banking to manage their finances.
Branch closures are also seen as a way for banks and building societies to cut costs.
However, there are fears the continued closures will hurt certain parts of our society more than others.
Research found around 39% of people over 65 did not use online banking and were at "high risk of financial exclusion".
While a survey conducted by Which? last year, found more than half of disabled or impaired people had negatively been impacted by bank closures.
In May TSB announced it would close 36 branches in the next two years.
Earlier this year Lloyds Banking Group, which owns Halifax, confirmed that it will close 69 branches over the next year.
Some banks or building societies such as HSBC and Nationwide have made pledges to limit branch closures or not shut any at all.
Nationwide has announced its commitment to keep its existing branches open until 2028.
What to do if your local bank closes
If a recent bank or building society closure has left you without one nearby, you have some alternatives.
You can carry out most basic banking tasks at your nearest Post Office, although you won't be able to apply for a loan or open a new bank account there.
You can find your nearest Post Office branch by using the locator tool on its website.
Meanwhile, many banks offer a mobile banking service - where they bring a bus to your area offering services you can usually get at a physical branch.
Other banks use buildings such as village halls or libraries to offer mobile banking services.
It's worth contacting your bank to see what services they have available, and when they might next be in your area.
In June it was announced that new super ATMs would launch in 17 UK locations where branch closures have left residents unable to access essential banking services.
READ MORE SUN STORIES
The ATMs will allow customers to withdraw funds, access their balance, change PIN numbers and deposit cash.
Bank of Scotland, Barclays, Halifax, Lloyds, NatWest, Royal Bank of Scotland and Ulster Bank are already signed up to allow deposits, at the super ATMs, with more banks set to sign up soon.
How do I switch bank accounts?
SWITCHING bank accounts is a simple process and can usually be done through the Current Account Switch Service (CASS).
Dozens of high street banks and building societies are signed up - there's a full list on CASS' website.
Under the switching service, swapping banks should take seven working days.
You don't have to remember to move direct debits across when moving, as this is done for you.
All you have to do is apply for the new account you want, and the new bank will tell your existing one you're moving.
There are a few things you can do before switching though, including choosing your switch date and transferring any old bank statements to your new account.
You should get in touch with your existing bank for any old statements.
When switching current accounts, consider what other perks might come with joining a specific bank or building society.
Some banks offer 0% overdrafts up to a certain limit, and others might offer better rates on savings accounts.
And some banks offer free travel or mobile phone insurance with their current accounts - but these accounts might come with a monthly fee.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
Plus, you can join our Facebook group to share your tips and stories
Topics