TSB Bank Thurso To Close As Axe Hits 70 Branches

30th November 2021

The Thurso branch of the TSB will close on 22 April 2022.

TSB will continue to have 7th largest branch network with over 200 branches

No closures where TSB is currently "last branch in town"

10 further ‘pop-up' branches to be opened

150 fewer roles but all impacted staff to be offered alternative roles at TSB

TSB has announced it will close 70 branches in 2022 as it responds to declining branch use and increasing numbers of customers switching to digital banking services.

In recent years, the bank has seen a significant decrease in branch use, with the average number of transactions per branch falling since January 2019 and no prospect of branch transactions returning to pre-Covid levels.

Two years ago, TSB set out its intention to reduce its branch network and invest in digital services, as part of its strategy to meet the future needs of customers, but the Covid-19 pandemic has further accelerated the shift away from branch services, with customers shopping and doing more online. Over 90% of customer transactions are now carried out digitally and video banking accounts for over 90% of mortgage appointments.

The branches that will close carry out around a third (32%) fewer transactions than the TSB national average. There is also a Post Office or free to use ATM within a mile of each closing branch.

TSB's Chief Customer Officer Robin Bulloch said:

"Closing branches is an incredibly difficult decision to take, but we have to respond to the changes in the way people bank and provide the right mix of services for all our customers now and into the future.

"These changes allow us to maintain an extensive branch presence across the country. They are accompanied by a significant investment programme to upgrade branches to better suit customer needs. And, where it takes longer to get to the nearest branch, we will introduce more ‘pop-up' services in communities."

TSB remains committed to a UK-wide branch network and following the changes, will have 220 branches, remaining the 7th largest branch network in the UK. Once complete more than 90% of TSB customers will still be able to travel to a TSB branch in 20 minutes or less.

By the end of the year, TSB will also have upgraded around 140 branches to help deliver the best experience for TSB's personal and business customers, including introducing new technology and creating a more open and flexible layout so they deliver what customers need.

The bank has already opened ‘pop-up' services in 41 communities across the country where it takes longer to get to the nearest branch. A further ten are planned following this announcement.

At ‘pop-ups', TSB advisors provide face-to-face support, including making payments, providing product information and helping customers get started with digital banking.

As with previous closures, additional support will be provided to vulnerable customers, including one-to-one advice on their banking needs, such as digital skills training and alternative ways to bank. They will also be contacted personally in advance of a branch closure to make them aware of the changes.

All staff impacted by these changes will have the opportunity to move to an alternative role in TSB.

Full list of TSB bank closures in 2022
Aylesbury - 19 April 2022
Bath - 15 June 2022
Bermondsey - 27 April 2022
Bishop's Stortford - 26 May 2022
Bromley - 18 May 2022
Bury St Edmunds - 26 May 2022
Camberley - 5 May 2022
Cambridge - 20 April 2022
Carolgate - 24 May 2022
Cleveleys - 8 June 2022
Colchester - 31 May 2022
Coldside - 13 April 2022
Cirencester - 14 June 2022
Denton - 17 May 2022
Ealing - 5 May 2022
Eastbourne - 17 May 2022
Ellon - 19 April 2022
Exeter - 21 June 2022
Forfar - 14 April 2022
Forres - 27 April 2022
Fort William - 20 April 2022
Frodsham - 22 June 2022
Garston - 9 June 2022
Gateshead - 10 May 2022
Gillingham - 15 June 2022
Greenwich - 28 April 2022
Harlesden - 28 April 2022
Horsham - 12 May 2022
Kirkintilloch - 28 April 2022
Lanark - 27 April 2022
Longbridge - 28 June 2022
Louth - 24 May 2022
Magdalen Street - 28 June 2022
Maidstone - 10 May 2022
Market Hill - 16 June 2022
Maryport - 10 May 2022
Melton Mowbray - 1 June 2022
Morden - 11 May 2022
Morecombe - 7 June 2022
Nelson - 18 May 2022
Newbury - 7 June 2022
Newton Aycliffe - 3 May 2022
Northallerton - 3 May 2022
Ossett - 17 May 2022
Oxford - 7 June 2022
Redcar - 4 May 2022
Redditch - 2 June 2022
Romford - 31 May 2022
Ross-On-Wye - 22 June 2022
Rushden - 21 April 2022
Sherwood - 29 June 2022
Shrewsbury - 28 June 2022
Solihull - 1 June 2022
Southend-On-Sea - 2 June 2022
Stranraer - 28 April 2022
Sutton - 26 May 2022
Swaffham - 24 May 2022
Taunton - 12 April 2022
Thornbury - 9 June 2022
Thurso - 21 April 2022
Tunbridge Wells - 19 May 2022
Uxbridge - 4 May 2022
West End - 4 May 2022
Weston-super-Mare - 23 June 2022
Wilmslow - 14 June 2022
Wimborne - 13 April 2022
Winsford - 21 June 2022
Woodseats - 15 June 2022
Worcester - 21 June 2022
Yeovil - 12 April 2022

How did it come to this?
Once formed by the savers and finally sold off by the UK Government even though they did not own it.

Trustee Savings Bank History

Then TSB History

1 May 2015
This is money
Lloyds sells TSB to Spanish bank Sabadell and loses two and a half billion pounds

Encyclopedia.com
An explanation about the controversy of who actually owned the bank before it was floated.
See https://www.encyclopedia.com/books/politics-and-business-magazines/tsb-group-plc