TSB to shut branches in Banff and Peterhead in latest round of closures
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TSB has announced plans to close banks across the UK including its branch in Banff.
The Castle Street bank is earmarked for closure in May 2025.
The Peterhead branch is also included in the closures with it to shut its doors for good in September this year.
The bank is going through a major restructuring change in a bid to cut down costs. Two hundred and 50 jobs are set to go.
Trade Union Unite said the redundancies are likely to affect the bank's fraud operations, central operations and the TSB branch network.
It comes just a few months after TSB said it would cut around 300 jobs in its risk and finance, customer banking and customer delivery teams.
A spokesperson for TSB 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.
"To meet changing customer needs and for TSB to remain competitive, we are making changes to simplify the way we operate.
"Our priority is to consult with impacted colleagues to ensure they’re fully supported, maximising redeployment opportunities where we can."
The TSB branches closing down are:
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
Amble
Aylsham
Banff
Bedlington
Bude
Crook
Flint
Tenbury Wells
Whitchurch
Age Scotland’s chief executive Katherine Crawford said: “This is a disappointing move from TSB, and unfortunately is the latest in a continuous stream of banks abandoning high streets across Scotland in favour of a digital-by-default approach that does not consider the needs of all of their customers.
“Access to cash and in-person banking services are vital for many older people in Scotland. In fact, we know that 34 per cent of over 65s prefer to bank in person.
“We also know that 31 per cent of over 65s feel uncomfortable with the idea of online banking for a variety of reasons, including lack of trust in online services, lack of necessary IT skills and a fear of falling victim to fraud and scams.
“With branches disappearing at a rate of knots, an increasing number of communities are being left with either one local bank or facing the prospect of travelling further afield to do their banking. This is especially concerning for older people in rural and remote areas.
“We need greater growth in the network of banking hubs as an overreliance on the fragile Post Office network isn’t sustainable. Banks must take their responsibility to customers and communities seriously.”
