Rushden branch of TSB to close its doors next year

A Rushden High Street bank branch has been earmarked for closure in the latest cuts as customers move online to deal with their finances.

The town's TSB - once called The Trustee Savings Bank - has been included in the list of 70 branches across the UK with the Rushden High Street counter being closed on April 21, 2022.

Rushden will be left with Lloyds Bank, the NatWest and the Nationwide Building Society - all in the High Street.

TSB customers will have to travel to nearby Bedford or Weston Favell if they want an over the counter service.

TSB’s chief customer officer Robin Bulloch said: “Closing branches is an incredibly difficult decision to take, but we have to respond to the changes in the way people bank and provide the right mix of services for all our customers now and into the future.

“These changes allow us to maintain an extensive branch presence across the country. They are accompanied by a significant investment programme to upgrade branches to better suit customer needs. And, where it takes longer to get to the nearest branch, we will introduce more ‘pop-up’ services in communities.”

The 150 staff across the UK losing their jobs will be offered 'alternative roles' at TSB. Currently TSB has 290 branches. By the end of June 2022, it will have 220.

Bank bosses have cited a significant decrease in branch use, with the average number of transactions per branch falling since January 2019 and no prospect of branch transactions returning to pre-Covid levels.

More than 90 per cent of customer transactions are now carried out digitally.

The branches that will close carry out about a third (32 per cent) fewer transactions than the TSB national average. There is also a Post Office or free to use ATM within a mile of each closing branch.

As with previous closures, additional support will be provided to vulnerable customers, including one-to-one advice on their banking needs, such as digital skills training and alternative ways to bank. They will also be contacted personally in advance of a branch closure to make them aware of the changes.