TSB on Hungerford High Street to close

The branch will shut its doors in May next year

ANOTHER bank in Hungerford is to close permanently.

The TSB branch in the High Street is one of 164 across the country that is being closed as the bank cuts costs, with around 900 people set to be made redundant.

TSB said on Wednesday a rise in the number of people using its digital banking services during the coronavirus pandemic had accelerated the shift towards online banking.

A TSB spokesperson said: “We’ve looked carefully at our Hungerford branch and how it is used, and we’ve taken the decision to close it.

“The way customers bank with us is rapidly evolving with the vast majority of everyday transactions now being done digitally.

“Over 2.1 million of our customers now choose to bank online, and over 1.3 million use our mobile banking app.

“Even prior to Covid-19 customers were choosing other ways to bank with us, with 50 per cent using services at our cash machines, and 20 per cent using a post office.

“Over 190,000 customers have been supported through our new online chat service, helping them with queries and other services.

“Sixty seven per cent of all our customers are now using mobile, online or telephone banking, and at this branch 81 per cent of our personal and 79 per cent of our business customers, now choose to use another branch or channel instead.

“We need to make sure our branches meet the current and future needs of our customers, and TSB remains committed to face to face services in branch through a network that covers the whole country.”

The branch will close on May 19 next year.