TSB branch closures – which banks are closing?
TSB is closing 164 branches, around a third of its banks.
The move is expected to result in the loss of more than 900 jobs at the high street lender.
It comes as less customers visit physical branches, with more people using online banking services instead.
In total, TSB expects 969 roles will be lost – although it is creating 120 digital and customer services roles at the same time.
TSB last closed branches in November 2019 when it shuttered 82 sites.
Which TSB branches are closing?
TSB hasn't revealed the list of locations that are closing yet – we'll update this story when we know more.
The bank previously said that many of the branches earmarked for closure are in rural communities.
However, TSB says it has taken care to ensure vulnerable customers still have access to cash.
It says 94% of TSB customers can travel in 20 minutes or less to a branch.
TSB will have 290 physical banks remaining after the closures.
Why is TSB closing branches?
TSB explained that the branches it wants to close have low numbers of people visiting, with fewer than 100 regular customers in some banks.
The lender thinks this is because of where these branches are located, or they don't have the right facilities.
On top of this, TSB blamed more people banking online for the closures.
Robin Bulloch, customer banking director at TSB, added: "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."
When did TSB last close branches?
The latest proposals come on top of the 82 branches TSB said it would shut in an announcement last November, putting roughly 370 jobs at risk.
You can see a full list of banks that were affected here.
The closures are part of a plans by the bank to save £100million by 2022.
It comes as TSB launched a new account that automatically tops itself up with savings to stop you going into the red.
TSB recently gave bonuses to front line staff dealing with coronavirus crisis.
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