Worcester's TSB among 70 earmarked to close - The Worcester Observer

Worcester's TSB among 70 earmarked to close

Worcester Editorial 30th Nov, 2021   0

THE TSB has announced it is to close its Worcester branch on June 21 next year following a rise in online banking

The bank, on Mealcheapen Street, is one of 70 earmarked for close within the next seven months.

TSB said that in recent years it had seen a significant decrease in branch use, with the average number of transactions per branch falling since January 2019 and no prospect of branch transactions returning to pre-Covid levels.

It added that the pandemic had further accelerated the shift away from branch services, with customers shopping and doing more online.

It said more than 90 per cent of customer transactions are now being carried out digitally and video banking accounts for over 90 per cent of mortgage appointments.

Furthermore it said the branches closing were carrying out a third fewer transactions than the TSB national average and that there is also a Post Office or free to use ATM within a mile of each closing branch.

TSB’s chief customer officer Robin Bulloch said: “Closing branches is an incredibly difficult decision to take, but we have to respond to the changes in the way people bank and provide the right mix of services for all our customers now and into the future.

“These changes allow us to maintain an extensive branch presence across the country.”

The bank said all staff impacted by these changes will have the opportunity to move to an alternative role in TSB.

TSB is owned by Banco Sabadell of Spain.


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