Bank closures based on coronavirus as branches continue to shut

BANK customers are facing a fresh round of High Street branch closures sparked by coronavirus, it emerged yesterday. The alarming development was flagged up when TSB blamed the pandemic for plans to shut 164 branches with the loss of 900 jobs. Figures from the last five-and-a-half years suggest the sector has already lost an average of 55 outlets a month.

Experts warned if this trend continues at the same rate all High Street branches could be gone within 12 years. But TSB warned that Covid had led to a “marked shift” from traditional walk-in branches to digital services requiring an overhaul of its operation. Consumer experts and pensioners’ groups said the “drastic cuts” highlighted a worrying trend which left thousands of customers cashless.

Gareth Shaw, the head of money...
source: Express

2020-10-01 16:23
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