TSB Bank to close 5 more branches in May 2025 – | U.Ok.Finance News
TSB Bank will close 5 more branches throughout the UK subsequent month because the shift to online banking continues. The shuttered branches will be part of the bank’s wider checklist of at the least 11 to close in 2025.This transfer varieties half of a broader development, with hundreds of branches already closed in latest years. According to client group Which?, more than 6,300 bank and building society branches have closed since January 2015, equating to 53 closures on average each month. A press release from TSB reads: “The way customers choose to bank with us is changing. Over 95% of transactions are now being made using mobile, online and other ways to bank, instead of in our branches. More customers than ever are using our video and telephone banking service.”Charities are urging better safety for in-person banking providers, warning that older and susceptible people risk being left behind in the digital shift. Research by Age UK reveals that over 4 million older Britons with bank accounts don’t handle their funds online.Caroline Abrahams, charity director at Age UK, mentioned: “We applaud the banks for coming together to set up shared Hubs, but it’s important that alternative services are set up speedily, especially in those areas with the greatest need.“Physical spaces – whether a bank or building society branch, Banking Hub, or alternative suitable provision – must continue to exist so people can still carry out face-to-face tasks, such as withdrawing and depositing cash, applying for a loan, arranging third party access to their account or starting bereavement proceedings.“The disappearance of face-to-face banking risks cutting a significant minority of the older population out of an essential service, making it difficult if not impossible for them to manage their money and maintain their independence.”Hundreds of (*5*) have been launched to fill the void left by high road bank department closures, giving clients entry to money and providers no matter who they bank with. People can discover their closest location right here.
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