TSB announce closure of Tain branch
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The banking giant TSB has announced today that they are to close their Tain branch.
It will be one of 17 closures in Scotland.
Age Scotland, the national charity for older people, has criticised the TSB’s decision to close the branches in 2020, saying it will hit older and more vulnerable customers the hardest.
The list of closures means that swathes of Scotland are heading towards becoming "banking deserts" with no banks in some towns and communities.
TSB announced on Monday that it plans to close 82 branches across the UK as part of a £100m cost saving programme. Today the bank published a list of the affected branches.
The move is the latest blow to high street banking, with 38 per cent of Scottish branches closing in the past five years.
Adam Stachura, Head of Policy at Age Scotland, said: “At a recent meeting with TSB, we were assured us that their plan to reduce operating hours at some branches was not a prelude to closing them. It is extremely disappointing to see a closure programme announced."
And Liberal Democrat candidate for Caithness, Sutherland and Easter Ross, Jamie Stone – who lives in Tain – said: "This closure is another in the long list of bank closures in the Highlands and highlights the banking crisis we face in the Far North.
“Whilst in Parliament, I raised the issue of bank closures in the chamber over 25 times, and met with Government ministers and bank bosses to highlight how desperately we need banking facilities to remain open in Caithness, Sutherland and Easter Ross.
“We need banks and the Post Office to work together to provide joint branches which would give customers face-to-face advice and the ability to accept case and cheques, regardless of which bank you are actually with. Discussions with banks were making progress before the election, and if I was to be re-elected I would continue them with a view to establishing these hubs.
“To make this happen the Government must also act. We face a real banking crisis in the Highlands, and it is their duty to step in and invest in combined banking facilities.”
Adam Stachura continued: “This is another slap in the face to loyal bank customers, especially those who are older, disabled, or don’t have internet access. It’s extremely disappointing to see yet another bank put profits ahead of its customers, particularly those who need to use a branch most.
“This will undoubtedly make it harder for tens of thousands of people to access their finances and manage their money on a daily basis. We know older people are more likely to prefer a face-to-face service. Seven in 10 over-65s don’t use online banking, and more than half of Scottish people aged 80 and above never use the internet at all, so they are being left behind with the march to digital banking by default.
“Bank branches have been disappearing from our high streets at an alarming rate, with almost half closing in the last decade. Banking deserts across Scotland are starting to form, with many towns and villages left with no service at all.
“We would encourage banks to consider creative alternatives to outright closures, such as shared branches with several banks splitting the cost of staff and premises between them while offering a valuable face-to-face service. This is gaining political traction but it just needs the banks to have the courage to start it.
“Age Scotland is calling on the next UK Government to ensure that every older person has easy and free access to banking services and cash, wherever they live, including in rural areas. If the banks are not willing to do this themselves, then perhaps it’s time for the Government to step in.”
