The UK’s seventh largest bank is to close 70 branches next year as customers have moved to online banking.
TSB said that they will still have 220 bank branches by the end of June 2022 and they will still remain the seventh largest branch network.
TSB said nine in 10 transactions are now take place online, with 90% of mortgage appointments are conducted via video calls.
The bank said, There is “no prospect of branch transactions returning to pre-Covid levels.”
TSB 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.”