Save, make, understand money


TSB latest bank to announce branch closures

Paloma Kubiak
Written By:
Paloma Kubiak

TSB has confirmed it will close a number of branches later this year. Here’s the full list and the alternatives if you’ll be impacted.

The lender will close three branches in Scotland and six in England in May as digital banking continues to be the preferred method for customers.

Following the closures, this will take its network to 211, making it the seventh largest in the UK.

Here are the branches and the dates they’re set to close:

  • 1 Broad Street, Kirkwall, Scotland, KW15 1HE – 24/05/23
  • Bank Street, Aberfeldy, Scotland, PH15 2BB – 16/05/23
  • 37 Castlegate, Newark, England, NG24 1BD – 09/05/23
  • 9 Manchester Street, Luton, England, LU1 2QB – 30/05/23
  • 61 High Street, Banbury, England, OX16 5JR – 31/05/23
  • 13-15 High Street, Keynsham, England, BS31 1DP – 02/05/23
  • 1 Bridge Street, Evesham, England, WR11 4SQ – 04/05/23
  • 1 Braidcraft Place, Pollock, Glasgow, Scotland, G53 5EU – 17/05/23
  • 675 Ormskirk Road, Pemberton, Wigan, England, WN5 8AH – 11/05/23.

According to the data listed by the LINK ATM network, a ‘deposit solution’ has been recommended for Keynsham.

While TSB has flagged these branches for closure this year, there were no new closures announced in 2022. But previous closure announcements made in 2021 resulted in 70 branches being shuttered last year.

The closures closely follow TSB’s £48m fine levied in December 2022 over its historic bungled IT system upgrade which left millions of customers unable to access their accounts, while others were subject to fraud off the back of the meltdown.

TSB banking alternatives

TSB operates 45 pop-ups in communities across the country to support customers with their banking needs such as making payments, getting help with products and services, and assistance with bereavements.

Locations for the pop-ups include town halls, libraries or community centres.

Last month, the major high street banks launched Cash Access UK to provide customers and businesses with free access to cash, deposits and basic banking services.

A TSB Spokesperson said: “The decision to close a branch is never taken lightly, but our customers are banking differently – with more using digital banking.

“We remain committed to a national branch network and have invested £30m upgrading it over the last two years. Through video, telephone, digital, branch and other face-to-face services, TSB customers now have more ways to bank with us than ever before.”

Total branch and ATM closures

LINK data revealed more than 600 bank branch closures were announced during 2022, across brands including Lloyds, Halifax, Bank of Scotland, Nationwide Building Society, HSBC, Barclays, RBS and Danske Bank.

The move by TSB comes just days after Barclays was the first of the major lenders to announce branch closures this year.

Here, 15 branches will close in April as Barclays said it is adapting its presence due to the decline of in-person banking habits.

Overall in 2022, the number of ATMs decreased from 52,547 to 51,253, according to the latest data from LINK.

Related: An in-depth guide to your rights when your bank branch closes