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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.
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.
