Grangemouth bank closes its doors for good

TSB in La Porte precinct is one of 73 branches throughout Scotland – including the premises in South Street, Bo’ness – which will be closing, affecting around 300 branch-related jobs, as the financial organisation continues to implement the three-year strategy it announced in November 2019.

It stated the changes have been driven by a significant change in customer behaviour, including a reduction in the numbers using branches and a significant acceleration in digital adoption.

Branches earmarked for closure have been selected to ensure 94 per cent of TSB customers in Scotland remain within 20 minutes travel time of a branch.

TSB stated it will introduce around 50 mobile advisers in some rural communities to deliver face-to-face support for existing TSB customers on basic banking queries and organise further support for them.

Robin Bulloch, TSB customer banking director, said: “These decisions are the most difficult we take, but we must always be guided by our customers – and we are clearly witnessing a substantial shift towards digital banking.

“We operate a more extensive branch network than most other banks in Scotland, including some much larger than TSB, and we need to reduce its size to reflect the changing needs of our customers and a fast-evolving operational environment.

“TSB remains committed to offering high quality banking services in branches across Scotland. We are also introducing mobile advisers to ensure we look after vulnerable customers and those in rural locations.

“We are working to ensure the transition towards digital – which is being seen right across the economy – is handled sensitively and pragmatically for our colleagues and customers.”

The closures will take place in 2021.

TSB said it will continue to invest in its 62 remaining Scottish branches to radically improve the customer experience. This includes providing its branch staff with industry-leading training, accredited by the Chartered Banker Institute, to help customers with the more complex needs they now use branches for and improve their money confidence.

Grangemouth town centre previously lost a bank when Royal Bank of Scotland closed its branch in La Porte Precinct in October 2017.

The only bank that remains in the town centre now is the Bank of Scotland in York Arcade/La Porte Precinct.