TSB is facing a backlash after announcing plans to close one in six of its branches, bringing the total closed by the country’s biggest lenders to more than 6,000 in the last nine years.
In a move that will cost 250 jobs, the major lender is axing 36 of its remaining 211 sites, leaving it with just 175.
Critics called the plan, which calls for branch closures between September of this year and May, a “serious mistake.”
Following the closures, TSB will have closed 459 branches since 2015.
This will bring the number of closures of Britain’s biggest banks over the past nine years to 6,006, according to consumer group Which?.
Branch closures: In a move that will cost 250 jobs, TSB said it will ax 36 of its remaining 211 sites, leaving it with just 175
Lenders say they are eliminating sites as more customers switch to online banking.
But campaigners have warned that the large number of closures risks isolating older customers and vulnerable people from their finances.
It comes after TSB said in February it was setting aside £29m for a cost-cutting plan to simplify the business and make it more efficient.
TSB announced yesterday that jobs across its fraud department, central operations and branches earmarked for closure were at risk.
But the Unite union said the decision was a “serious mistake”.
Regional head Andy Case said: ‘The union is putting pressure on TSB to urgently reconsider its damaging branch closure plan.
‘At a time when customers are increasingly concerned about financial fraud and often need support from a local bank branch, this is the wrong course of action.
“Customers will be rightly concerned and will undoubtedly suffer a degradation of service due to these job cuts.”
Unite said it will hold further negotiations with TSB on ways to reduce job losses and support its members.
TSB said it had decided to close the branches because not enough customers were using them.
About 96 percent of all its transactions take place outside a branch and in-store transactions have fallen 43 percent over the past four years.
TSB said: “The decision to close a branch is never taken lightly, but our customers now do most of their banking digitally and we need to move towards a better balance between digital and face-to-face services.”
In a bid to soften the blow, the lender said it will open two more “pods” in areas facing branch closures.
Customers will be able to speak to someone, get help using mobile and online banking, and will have the opportunity to withdraw and deposit cash.
It will also open pop-up services in six locations, offering face-to-face support such as making payments, getting product information and help with digital banking.