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TSB to close 164 branches - could Biddulph bank be affected?

Local News by Jack Lenton 30th Sep 2020  

Update: Biddulph TSB will NOT be one of 164 branches to close next year, the bank has now confirmed. Read the updated story here.

TSB is to close 164 branches around the country and cut over 900 jobs, the bank revealed in an announcement today.

It comes in addition to 82 branches that the bank announced for closure in November 2019. Congleton's branch of TSB was one of this, being due to close on 20th October this year - although the Biddulph branch remained open.

The bank said the closures have been brought about due to "a significant shift in customer behaviour, including a reduction in the number of customers using branches and a significant acceleration in digital adoption."

TSB has not yet confirmed which of its branches will be part of those 164 marked for closure. An announcement regarding each individual branch is expected later today.

Biddulph's TSB branch is located on King Street. A staff member at the Biddulph branch said today that they weren't currently able to comment on the branch's future.

Biddulph Nub News will update the story when more information is released regarding individual branches.

Debbie Crosbie, Chief Executive of TSB, said: "Closing any of our branches is never an easy decision, but our customers are banking differently – with a marked shift to digital banking.

"We are reshaping our business to transform the customer experience and set us up for the future. This means having the right balance between branches on the high street and our digital platforms, enabling us to offer the very best experience for our personal and business customers across the UK.

"We remain committed to our branch network and will retain one of the largest in the UK."

Robin Bulloch, Customer Banking Director at TSB, said: "Alongside these changes, we will continue to invest in our remaining branch network to offer high quality banking services, fully integrated with improved digital capability.

"We are working to ensure the transition towards digital – which is being seen right across the economy – is handled sensitively and pragmatically for our colleagues and customers. We're taking steps to support vulnerable customers and those in rural locations."

The bank says that branches earmarked for closure are on average less than 0.3 miles to the nearest post office, and under 0.1 miles to the nearest free ATM.

TSB plans to reduce down to 290 branches by the end of 2021, from the 475 branches it had open this year.

     

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