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Gloucestershire Business News

TSB branches to shut in Cirencester and Ross-on-Wye

Cirencester and Ross-on-Wye are to lose their TSB branches - the latest in a series of local bank closures.

The branch in the Market Place in Cirencester will close its doors for the last time on 14th June 2022.

The branch in Gloucester Road, Ross-on-Wye, is set to close a week later, on 22nd June 2022.

The closures are two of 70 more TSB branches facing the axe across the UK in 2022.

TSB branches in Dursley, Hucclecote, Bishop's Cleeve, Cinderford and Wotton-under-Edge all closed this year.

Last year people living in Moreton-in-Marsh and Stroud also lost their local TSB branch.

It's part of a programme of closures launched two years ago, as 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. The Covid-19 crisis has further accelerated the shift away from branch services, with customers shopping and doing more online.

Over 90% of customer transactions, the bank says, are now carried out digitally and video banking accounts for over 90% of mortgage appointments.

Robin Bulloch, TSB's chief customer officer, 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."

TSB says it will remain the 7th largest branch network with 220 branches across the country.

Punchline says the widespread closure of high street banks is a real danger to local communities with many people still dealing in cash and preferring the reassurance of face-to-face banking, as well as taking away another draw to the retail heart of towns.

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