Which? comments as TSB announces branch closures as part of new strategy

Gareth Shaw, Head of Money, Which?, said:
“TSB’s plan to close almost 100 branches will be a huge blow to many customers and goes against what millions of consumers say they want from their bank. Our research has found two thirds of people would find life difficult without convenient access to a branch, while 11 million people lack the confidence to carry out basic banking tasks online.

“Bank customers are still enduring almost daily IT glitches, which is why everyday banking services and access to cash – which is a vital back-up – must be protected. The next government should urgently intervene with legislation that protects access to cash for as long as it is needed.”

Notes to editors

More than a third of the UK’s bank branches have shut their doors since 2015.

Between January 2015 and August 2019 and found there were 3,303 closures (34%) in that period as banks continued to shut branches at an alarming rate – reducing the overall branch network from 9,803 to 6,549.

TSB shut 89 branches, which was a 14% reduction.

Statement