Age Scotland criticises TSB's "slap in the face" for older customers

Age Scotland has criticised TSB’s announcement that it will close 82 branches across Scotland, saying older and more vulnerable people will be hardest hit.

The bank announced the closures todayas part of a £100m cost saving programme.

The branches affected will be announced later this week. TSB’s decision is the latest move in the relentless decline of high street banking,  with 38 per cent of Scottish branches closing in the last 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. While we don’t know which branches are affected yet, it’s extremely disappointing to see a closure programme announced.

“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 the most.

“This will undoubtably 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.”