09 February 2017

TSB continues its £250m branch and digital investment programme

 

TSB is part way through a £250 million investment programme in branch and digital banking services, helping customers get the best of both worlds; great face to face service combined with digital banking. The way people bank is changing fast and our investment programme is about getting the balance right.

In just two years, we have completed over 150 branch refits and refurbishments and nearly 40 branches have received six-figure upgrades. In addition, at the end of last year we opened brand new flagship branches in Aberdeen and Birmingham. 

Whilst we continue to focus on upgrading the branches that people use most, some locations are very quiet, serving fewer than 200 people a week. In some cases this is because there is another branch less than a mile away. As a result, we have decided to close 29 branches and focus our investment on those more popular locations.  

There will be no job losses as a result of these changes. All partners in the closing branches will be offered roles in other nearby branches. 

There will still be a TSB branch within two miles of 42 per cent of the population and we will continue to invest in our network. Whilst the vast majority of bill payments and other similar tasks are now done online, half of new current accounts are still opened face to face and many people also prefer to deal with important transactions such as taking out a mortgage face to face.   

This balanced approach offering customers the choice of face to face or digital is working well. TSB was Britain’s most recommended high street bank in 2016 and was recently rated the best high street bank for service by Which? [1].

Peter Navin, Distribution Director at TSB, said: “We’re different from some other banks. We love our branches and they are an important part of what TSB is here to do. People don’t go today where they went twenty years ago and we are reacting to that with changes to our network and a major investment programme.” 

[1]Which? Customer Satisfaction Survey, published February 2017.

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Notes to editors

Town Branch Date closing
Aberdeen (Woodside)   435 Great Northern Road, Aberdeen AB24 2EH June 2017
Altrincham    72 George Street, Altrincham WA14 1RF   June 2017
Beith    34 Eglinton Street, Beith KA15 1AQ  June 2017
Birmingham (Priory)    2-4 The Priory, Birmingham B4 6BP   TBC
Birmingham (Small Heath)    407-409 Coventry Road, Small Heath, Birmingham B10 0SP   June 2017
Bridge of Allan    40 Henderson Street, Bridge of Allan FK9 4HS June 2017
Cambuslang     5 Greenlees Road, Cambuslang G72 8JA  June 2017
Cardenden  171Station Road, Cardenden KY5 0BN June 2017
Dalry   58New Street, Dalry KA24 5AF June 2017
Dunblane    30High Street, Dunblane FK15 0AB June 2017
Edinburgh (Sighthill)   495aCalder Road, Edinburgh EH11 4AP June 2017
Glasgow (Braehead)    BraeheadShopping Centre, Kings Inch Road, Glasgow G51 4BP June 2017
Glasgow (Charing Cross)    411-413Sauchiehall Street, Glasgow G2 3LG June 2017
Glasgow (Maryhill)   1105Maryhill Road, Glasgow G20 9AY June 2017
Goring-on-Thames   HighStreet, Goring, Reading RG8 9AT June 2017
Grimsby (Fiveways)   259Durban Road, Fiveways, Grimsby DN32 8AU June 2017
Huddersfield (Ramsden Street)   5Ramsden Street, Huddersfield HD1 2SN  June 2017
Kirriemuir   3Reform Street, Kirriemuir DD8 4BS  June 2017
Linlithgow   3The Vennel, Linlithgow EH49 7EX  June 2017
Lochgelly  142- 146 Main Street, Lochgelly KY5 9JR  June 2017
Manchester (Cross Street)  36Cross Street, Manchester M2 7AQ  June 2017
Nottingham (Sneinton Dale)  193Sneinton Dale, Nottingham, Nottinghamshire, NG2 4HU  June 2017
Otley  18Manor Square, Otley, West Yorkshire LS21 3AY  June 2017
Paisley(Neilston Road)  63Neilston Road, Paisley PA2 6NA  June 2017
Sheffield(Charles Street)  33Charles Street, Sheffield S1 2HU  June 2017
Sherborne  45Cheap Street, Sherborne DT9 3PU  June 2017
Southampton(London Road)  20London Road, Southampton SO15 2SR  June 2017
Tranent  100High Street, Tranent EH33 1HH June 2017
Troon  9Ayr Street, Troon KA10 6EB  June 2017

 

TSB has anagreement with the Post Office, meaning personal banking customers are able touse their local branch to check their balance, make cash withdrawals, and makecash and cheque deposits. 

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.

TSB was built to bring more competition to UK banking – to be a real challenger to the big banks and to deliver the kind of banking the people of Britain want. TSB only serves local customers and local businesses, to help fuel local economies, because communities thriving across Britain is a good thing for all of us.

We have a simple, straightforward and transparent banking model and make clear on our website how we operate and make money. We offer the products and services people tell us they want, with none of the funny stuff people normally associate with traditional banks.

Our 5 million customers, award winning mobile and digital banking, nationwide network of branches and 8,200 Partners mean we are big enough to make a difference, but small enough to be an agile challenger to the entire market. 

For further information about TSB Bank plc, please visit our website www.tsb.co.uk.

 

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