TSB to axe Swaffham branch in new closure programme
Residents in Swaffham have been given an unwelcome early Christmas present with the news that their last remaining bank branch is set to close.
The TSB premises in the Market Place will shut its doors for the final time on May 24, 2022, under proposals announced by the company today.
The site is among 70 branches across the UK that are set to shut for good during the first half of next year.
And bosses insist the plan is necessary to respond to the different ways in which people access banking services, claiming the sites facing the axe carry out around a third fewer transactions than the company's average.
Robin Bulloch, TSB's chief customer officer, said today: “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.”
The company says it is introducing a pop-up service to some of the towns affected, though not Swaffham, adding: "There is also a Post Office or free to use ATM within a mile of each closing branch."
The firm, which has more than 200 branches nationally, also claims it is not closing sites where it is "the last branch in town".
But the plan will only leave the Nationwide and Yorkshire building societies with branches in Swaffham, plus a cashpoint at the Asda supermarket.
However, a TSB spokesman said: "Under the LSB Standard guidelines, building societies are classified as access to cash services in the same way as bank branches.
"So when we determine what alternative services are available we look at both banks and building societies."
But the move is likely to provoke anger in an area where bank bosses have come under fire in the past for deciding to axe branches.
Affected staff will be offered alternative positions with the company.