Town to be left with just one bank following TSB closure announcement
PUBLISHED: 11:31 02 October 2020 | UPDATED: 11:31 02 October 2020
A north Norfolk town will soon have just one high street bank, after TSB announced it will shut 164 branches nationwide in the coming months.
The Holt branch of TSB, located on the High Street, will close in June 2021.
The branch is the only one of TSB’s six sites across the county which includes two in Norwich, as well as sites in Swaffham, Aylsham and King’s Lynn, to be included in the raft of nationwide closures.
The closure, which will come into effect on Thursday, June 17, means TSB customers will have to travel more than 11 miles to Aylsham to access over the counter services.
Issuing a customer notice on the closure TSB, said: “We’ve looked carefully at our Holt branch and how it is used, and we’ve taken the decision to close it.
“The way customers bank with us is rapidly evolving with the vast majority of everyday transactions now being done digitally.
“Even prior to COVID-19 customers were choosing other ways to bank with us, with 50% using services at our cash machines, and 20% using a Post Office®.
“We need to make sure our branches meet the current and future needs of our customers, and TSB remains committed to face to face services in branch through a network that covers the whole country. In Norfolk we will still have 5 branches serving 57,490 customers.”
Debbie Crosbie, chief executive of TSB, said: “Closing any of our branches is never an easy decision, but our customers are banking differently - with a marked shift to digital banking.
“We are reshaping our business to transform the customer experience and set us up for the future.
“This means having the right balance between branches on the high street and our digital platforms, enabling us to offer the very best experience for our personal and business customers across the UK.
“We remain committed to our branch network and will retain one of the largest in the UK.”
The TSB branch is the latest high street bank in Holt to close.
In 2018 the town’s Natwest branch closed followed by Santander in 2019.
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