Stop closure of TSB Winslow branch

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TSB has announced the 82 branches it plans to close in 2020, with much of the country affected. Earlier this week, the bank announced there would be closures as part of a plan by new chief executive Debbie Crosbie to make £100m of cost cuts by 2022. The bank said that 370 positions would be hit by the closures.

Following TSB’s branch review you have announced that its Winslow branch at 19 Market Square, Winslow, Buckinghamshire, MK18 3AD is closing on 21 April 2021. This building has history going back to 1600s. There has been a bank at this address since 1854. Lloyds Bank opened there in 1910 There has been a bank at this address since 1854. and in 2013 it became TSB Bank plc when customers were moved without a choice.

They have made this decision based on how they think the branch is used explaining the vast majority of everyday transactions now being done digitally. They have stated even prior to COVID-19 customers were choosing other ways to bank with them, with 50% using services at their cash machines, and 20% using a Post Office. Winslow has a high elderly population and many choose not to bank online for various reasons, including concerns about security, lack of confidence or not owning a computer or technology. The ability to walk to a local branch and discuss their banking needs is important. Many local businesses also use this branch to do their daily banking. Many people have no means of travelling to alternative branches. If this closes the nearest TSB branch will be Aylesbury or Milton Keynes. 

Lloyds customers were moved to TSB without any choice, the fact that there was a branch in Winslow was acceptable. TSB has benefitted enormously from people in Winslow and the surrounding villages moving their accounts there. If they are basing this purely on footfall that would be a mistake. The population and value of accounts within the area of Winslow is huge and rapidly increasing from new development. There is also a new railway currently under construction which will attract more people. Instead of closing the bank they should be using its’ monopoly within the area as a marketing tool! Having a local bank is an option people look for when moving to a new area. We can’t just be expected to rely on the already heavily used, and under-staffed, local Post Office. 

Has TSB considered reducing its opening hours or days that it opens, rather than completely closing the branch?

TSB’s ethos is to support local communities - let’s remind them of that.