Major bank to close town branch in weeks as ‘95% of transactions are done online’
A MAJOR bank has announced it will be closing its town branch in just weeks as “95 per cent of transactions are done online.”
The town centre bank will be closing its doors as customers turn to online and mobile banking services.
The TSB branch in Hamilton Road, Felixstowe, will be shutting up shop on September 10 as the bank confirmed more than 95 per cent of transactions are done using online services rather than in person.
In May, TSB announced it would be shutting 36 of its banks across the UK.
The bank will axe 250 jobs in the fraud operations department, central operations as well as those in the branches earmarked for closure.
The latest round of closures will start in September, and continue through to May next year.
A TSB spokesman said: “The decision to close a branch is never taken lightly, but our customers are now doing most of their banking digitally, and we need to move to a better balance of digital and face-to-face services.
“We remain committed to a national branch network and through innovation and integration with video, telephone, digital, branch and other face-to-face services TSB customers have more ways to bank with us than ever before.”
The following locations are set to close in September 2024:
- Alloa
- Bedworth
- Birmingham, Pype Hayes
- Bridlington
- Buxton
- Carmarthen, Blue Street
- Cwmbran, General Rees Square
- Dovercourt
- Edinburgh, Leith
- Felixstowe
- Frome
- Glasgow, Cardonald
- Glasgow, Castlemilk
- Haddington
- Hounslow
- Lerwick
- Leven
- London, Bethnal Green
- London, Clapham
- Longton
- Manchester, Middleton
- Newcastle Upon Tyne, Milvain
- Peterhead
- Sheerness
- Stornoway
- Torquay, St Marychurch
- Whitehaven
The following are set to close in May 2025:
- Amble
- Aylsham
- Banff
- Bedlington
- Bude
- Crook
- Flint
- Tenbury Wells
- Whitchurch
TSB has 175 remaining branches left across the country.
The next closest branch will be 11.9 miles away in Ipswich.
Research carried out by TSB has shown that the Felixstowe branch only has 15 regular customers (three business customers and 12 personal customers).
The bank will be reaching out to customers to provide support during this transition period before the closure in 45 days.