TSB is committed to ensuring that our bank evolves to meet our customers’ demands in communities across Britain. This is why we are continuing our £250 million investment in our digital and branch offering, which includes having the right branches in the right places.
Since launching back onto UK high streets in September 2013, we now have a much clearer picture of how customers are using us. We know that although the way in which people interact with their bank is changing, having a strong, fit for purpose branch network remains hugely important to customers, because there are times when only face-to-face will do.
As part of TSB’s strategy to ensure it has the right branches in the right places, TSB is launching two new flagship branches, fully refurbishing 10 branches and refitting around 100 others to upgrade and modernise our network. These branches will offer better technology, more facilities and improved services, including more self-service facilities and more TSB Partners on hand to help customers.
There are 13 towns and cities where TSB has multiple branches in close proximity and customers are showing a clear preference for one branch above another. As a result the Bank will close 25 of the less well used outlets by the end of April 2017 and invest in the busier ones.
The bank is conducting a comprehensive review of the impact of each closure on the local community. All of the reviews that have been conducted so far are published on our website, and are made available in the branches affected.
TSB remains committed to having a strong branch network and 47% of the population will continue to live within two miles of a TSB branch.
There will be no redundancies and TSB Partners in these affected locations will be relocated to another branch close by.
TSB is a member of the British Bankers’ Association (BBA) and is a signatory of its Access to Banking Protocol. The industry-wide protocol was launched in 2015 and looks to minimise the impact of a bank branch closure on communities.
We understand that the decision to close a branch will affect each community differently and this is why we have engaged with the local communities that are impacted by our decision. For each community affected, we have produced a comprehensive review which can be found below.
As well as this review, we write to our customers in advance of the closure and discuss with them the alternative options to continue banking with TSB.
226 Union Street
148 Union Street
85 St Vincent Street
180 West George Street
33 Craddock Street
29 The Kingsway
33 Queens Road
46 Castle Street
19 Castle Street
Niddrie Mains Road
28 Hanover Street
16b Cameron Toll Centre
21 Bargate Drive
10 Trysull Road
33 Ludgate Hill
51 Highgate High Street
30 London Road
1 Bowhill Terrace
11-13 Albert Road
119 Cathcart Road
162 Armada Way
36 Morshead Road
855 Stockport Road
1296 Ashton Old Road
44 Bridge Street
762 Finchley Road
Stoke Newington High Street
*Up to and including the end of April 2017
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TSB’s new flagship branches will open in Birmingham and Aberdeen later this year. This is the first time TSB will launch new purpose built sites.
The new branches have been designed in response to customer research and feedback. With TSB customers saying they want a mixture of face-to-face and digital services from their bank branch, this is exactly what the new branches will deliver. With nine in 10 (87%) people requesting TSB Partners on hand to help them, the human touch and personal service remains right at the heart of these branches. But, with three in five (60%) wanting more self-service facilities, the bank has boosted this element too.
The flagship branches will be set over two floors and comprise of three main areas:
Transact: Three-in-five (60%) of TSB’s customers said they want more self-service machines in branches, so the latest in cash machine technology will allow customers to pay in cheques, bills and make other transactions without needing to visit a counter. At the counter, TSB will remove screens to offer a more relaxed and personal service.
Consult: Almost nine in 10 (88%) TSB customers want TSB Partners on hand to help them with more complex money queries. The new branches will have an entire floor dedicated to face-to-face contact with purpose built meeting rooms to ensure both personal and business customers can discuss their finances, as well as TSB’s services, in privacy and comfort.
Explore: Three-in-five (61%) of TSB’s customers said they would benefit from branch Partners being able to help them with mobile and internet banking. Not only will Partners in the branch be on hand to help customers who have questions about banking online or queries about the TSB app, the new branches, like all TSB branches, will also offer complimentary Wi-Fi. iPads are also readily available in branch for customers to log on to TSB.co.uk.
Finally, large interactive TV screens will be installed allowing customers to explore what TSB has to offer, including 'how to' videos and information on local news and events.