TSB closing more branches......where is it going to end ?

[ianbarton]

It'll end when all branches are closed. It is sadly the future. Our branch (Le Crédit lyonnais) has closed too, we've been amalgamated with a bigger branch some 60km away. In fairness, the only time we went in was to deposit cheques (my wife's self employed so gets a number of cheques) - everything else we do online. So what else can I expect? Don't ask me to grieve for banks though!

Several banks let you pay in cheques by taking a photo and uploading them using their phone app. I only discovered this recently and it has saved lots of time.

 

[All uphill]

I opened an account with First Direct many many years ago - no branches at all - everything was done by phone (no internet at the time - yup THAT long ago)

It has always been excellent and there has never been anything that I can;t do easier with them over the phone than doing in person in a 'real' bank's branch
When the WWW came along they were already pretty well set up and it has all worked just fine

I do have another account that I originally opened due to an account which paid interest. They actually have a branch open near me but I doubt I go in there more than once a year.
In fact the last time was just to deposit about £70 of pennies and similar - all counted out into bags! The time before that was so long ago that I can;t remember it!

Plus one for First Direct. We've been with them for nearly 30 years!

For people who don't get on with computers their phone banking is excellent.

 

[ianrauk]

Plus one for First Direct. We've been with them for nearly 30 years!

For people who don't get on with computers their phone banking is excellent.

It still takes me by surprise anytime I call, a human actually answers the phone almost straight away.

 

[All uphill]

It still takes me by surprise anytime I call, a human actually answers the phone almost straight away.

And they are pleasant and helpful!

 

[Accy cyclist]

The three high street banks here where I live closed a good few years ago. Four miles away Accrington town centre still has a Lloyds and a Halifax, but for how long? The Lloyds bank is closed all day Wednesday and closes at 15.50 the other four working days.
https://branches.lloydsbank.com/accrington/2-peel-street

 

[classic33]

The last 22 months has lead many banks to think that people altering their behavior, to help then out in a crisis, is the new normal.
That staff working from home, with access to personal information, is the way forward for them. It may work for them, but they're passing part of the costs onto staff working from home.

All it will take is one case where personal information has been used/misused and a rethink will be on the cards.

 

[slowmotion]

It still takes me by surprise anytime I call, a human actually answers the phone almost straight away.

They are a fantastic bank. I've been with them since 1990 and they have been extremely helpful on numerous occasions.
In about 1993, my wife rang me from Taunton Deane services on the M5, en route from London to Falmouth. She had left her wallet at home, had no cash or credit cards, and the petrol gauge on the car was already in the red. She had managed to beg a phone call from the WH Smith branch (Bless them). In those days, mobile phones were pure sci-fi. Within twenty minutes, First Direct had arranged for her to pick up a hundred pounds in cash from my bank account at any bank in Taunton. When the crisis was resolved, I asked them what the charges would be.

Nada, zip, nothing.

 

[harlechjoe]

We have been with TSB since 1969.
They have announced a further 70 closures for next year
They closed our local branch last year ........beyond me as there always queues so must have been popular.
I am 74 and never been good with computers etc but can just about manage online banking.
There must be many people who just cannot do it and now have no local branch.
Seems as though they no longer care about people

They certainly don't care about the people who staffed their branches and will now be out of work. Yet its also a sign of our cashless society when paying by plastic or mobile telephones takes away the need for handling currency.

 

[PK99]

They certainly don't care about the people who staffed their branches and will now be out of work. Yet its also a sign of our cashless society when paying by plastic or mobile telephones takes away the need for handling currency.

Banks are not a free service, they are a business. If we as customers decide that we no longer want to use their brick and mortar branches, they have no obligation to stay open. I spent 3 week in Canada a short while ago and last week in Madeira. In neither country did I use cash. My daughters never carry cash.

 

[ianrauk]

Banks are not a free service, they are a business. If we as customers decide that we no longer want to use their brick and mortar branches, they have no obligation to stay open. I spent 3 week in Canada a short while ago and last week in Madeira. In neither country did I use cash. My daughters never carry cash.

I really can't remember the last time I carried or used cash.

 

[jowwy]

I really can't remember the last time I carried or used cash.

even takeaways can be ordered and paid for online these days.......

 

[BrumJim]

Banks are not a free service, they are a business. If we as customers decide that we no longer want to use their brick and mortar branches, they have no obligation to stay open. I spent 3 week in Canada a short while ago and last week in Madeira. In neither country did I use cash. My daughters never carry cash.

On the other hand, banks are effetively insured by the government and the customers' monies are too.

 

[IanSmithCSE]

Good morning,

Where is going to end is, according to my crystal ball;

People

• Everybody will need to have either a bank account or a State issued Visa/Mastercard prepaid debit card which will accept Universal Credit/State Pension payments.

Smaller towns/villages

• No bank branches
• One or two cash machines, probably not charging directly but operated by third parties and funded by the banks
• Some post office (or M&S money etc.) deposit facilities as many business still need to pay in cash, payment amount probably capped.

Extras in the larger towns/cities

• One or two bank branches from banks like Metro, with a small number of customers who are willing/need a branch and are willing to pay for it. Similar to the market for American Express cards, Visa/Mastercard work fine but some like Amex.

I suspect that whatever data breaches that occur from home working will be treated as an acceptable cost of having no branches, once enough are closed no government will have the nerve to do anything other than issue fines, which will be passed on to the account holders as lower interest on deposits or higher charges.

The big test will come when a shop or a collection of shops have to close as they can't take cards because of a technical failure and how long that failure lasts and how easy getting cash as backup is.

I am out of touch on this but it used to be the case that in Scotland that cash in a cash dispenser belonged to the central bank until it was issued, whereas in England it belonged to whoever was operating the cash machine at all times. This is important as it affects the amount of cash that could be in the machines.

As for acceptance, one of my favourite wet led pubs started taking plastic a couple of years ago and many, many older customers now pay by card, it seems to be pretty even between the costs charged by the card provider per transaction and the cash deposit charges made by the bank. Especially if you take into account a customer spending more on a card than they would if they had taken £20 out with them.

The big losers will be the cash in hand economy and those small number of people and businesses who can't get a bank account/pre paid card/Merchant account, for businesses, as they fall foul of some form of credit check or we don't want you as you won't be spending enough.

Bye

Ian

 

[cougie uk]

I don't think people using online forums are a typical cross section of the population who use banks.
If you're a shopkeeper - how do you pay cash in virtually ?
If you need to convert notes to coins or vice versa - how can you do that through an app ?

There are some businesses that only deal in cash - which has put me off using them in the pandemic.

It is a shame for people who use banks but we are going more and more towards a cashless society.

I wonder how those Brexit 50ps are going down.

 

[Dave7]

I don't think people using online forums are a typical cross section of the population who use banks.
If you're a shopkeeper - how do you pay cash in virtually ?
If you need to convert notes to coins or vice versa - how can you do that through an app ?

There are some businesses that only deal in cash - which has put me off using them in the pandemic.

It is a shame for people who use banks but we are going more and more towards a cashless society.

I wonder how those Brexit 50ps are going down.

For years all my small loose change has gone into a pot which I then occasionally count into plastic money bags.
When it got to, say, £50 I changed it at the bank and we would treat ourselves.
I have approx £50 now......but no bank to change it at.
Edit.
Maybe at the post office ?