Branch closures

Lizziemg

Several years ago a cashier at my local branch of Lloyds Bank suggested I might like to bank online. I asked how that would affect her job. She told me that the "powers that be" had instructed staff to encourage people to bank online.
I registered to bank online and like the fact I can check my current balance, transfer money between my current and savings accounts and pay some bills by BACS. I can also check if a payment I was expecting has actually arrived in my account.
But, I also like going into the branch if I have a particular query or to pay money/cheques in.
Last year a chance discussion with one of the Managers resulted in a meeting where I was a) able to transfer to a better current account,
b) was offered a better deal on my car loan than the one I had from the dealer,
c) discovered I'd paid PPI and was able to reclaim it and
d) got a better deal on Buildings Insurance for my home.
Not bad for an hour or so at the bank. Dealing with all those would have taken several hours of frsutration if I'd attempted to do it all online. Also I wasn't aware of the deals that the manager was able to offer.
So, for me, yes, there is a convenience in banking online, but having the back-up of somone I can talk to face-to-face in the bank is a definited plus.
Closing branches will lead to a) job losses within the banks and b) less opportunity for people to actually speak face-to-face with somone who can advise on financial matters without it costing me an extra penny.
I may be retired but I'm not a Luddite when it comes to dealing with matters online - far from it!
I regularly book flights/car hire/accomodation/compare prices of household items and use Facebook, Twitter. I also use a whole load of free listings websites to advertise events for organisations with which I volunteer and carry out much of my business by email.

meer53

Lizziemg wrote: »

Several years ago a cashier at my local branch of Lloyds Bank suggested I might like to bank online. I asked how that would affect her job. She told me that the "powers that be" had instructed staff to encourage people to bank online.
I registered to bank online and like the fact I can check my current balance, transfer money between my current and savings accounts and pay some bills by BACS. I can also check if a payment I was expecting has actually arrived in my account.
But, I also like going into the branch if I have a particular query or to pay money/cheques in.
Last year a chance discussion with one of the Managers resulted in a meeting where I was a) able to transfer to a better current account,
b) was offered a better deal on my car loan than the one I had from the dealer,
c) discovered I'd paid PPI and was able to reclaim it and
d) got a better deal on Buildings Insurance for my home.
Not bad for an hour or so at the bank. Dealing with all those would have taken several hours of frsutration if I'd attempted to do it all online. Also I wasn't aware of the deals that the manager was able to offer.
So, for me, yes, there is a convenience in banking online, but having the back-up of somone I can talk to face-to-face in the bank is a definited plus.
Closing branches will lead to a) job losses within the banks and b) less opportunity for people to actually speak face-to-face with somone who can advise on financial matters without it costing me an extra penny.
I may be retired but I'm not a Luddite when it comes to dealing with matters online - far from it!
I regularly book flights/car hire/accomodation/compare prices of household items and use Facebook, Twitter. I also use a whole load of free listings websites to advertise events for organisations with which I volunteer and carry out much of my business by email.

But i bet you could have got even better deals on your home insurance and loan online. Managers in branches rarely have the authority to offer different loan rates. The financial advice given in a branch can only be for the banks products, you can't get full independant financial advice from a branch, plus the branch wouldn't have been able to confirm whether you could claim back your PPI, you would need to make a complaint and wait for it to be investigated. I know a lot of people like to visit branches but for me, they aren't really necessary. It's years since i went into a branch.

mgdavid

Miss_Bosworth wrote: »

What do people do in the branches? I will tell you. They deposit or withdraw money in a dry, warm environment avoiding the gaze of strangers potentially standing a bit nearer than they might wish, they avoid the possibility of machines that have been tampered with, they can deal with larger sums of money than might be allowed at the cashpoint, and above all, they can interact with a real person. I do use my internet banking, but it can't do everything. I LIKE having the OPTION of going to the branch and I am the customer, right? Who do they think we are, chopped liver?!! The banks are famously (infamously) "rolling in it" yet we are meant to tolerate the pay-more-get less scheme! Three cheers for all those folks who closed their accounts and crossed the street.

While I'm at it, those real people in the branches have real jobs...for the moment. It would seem that we can't resist the siren call to develop ever-more clever ways to eliminate the need for manual and service industry related employment. At the other end of the equation we have a burgeoning population. Am I the only person who sees something very wrong in this scenario?

I take it you're not a shareholder of said bank? If you were, that may inform your view...

Robisere

We are with TSB. This morning OH and I visited the local branch for an arranged appointment, to sort out our accounts after several items had reached their EOL. We had previously arranged this by walking into branch 2 weeks ago and meeting a very friendly young man who set up the appointment in order to change and renew a couple of accounts. The young man was the branch Manager: how many of you have been able to speak to the manager of your branch recently?

The later appointment was with a fine young lady over coffee and biscuits, and the whole business was carried out in a friendly, courteous and efficient manner. It is far from the first time that we have been into the branch, and every time is a similarly good experience.

Now, before some of you cynics here think that we are a couple of doddering oldpharts with no financial acumen: we also bank online and have done for years. We have several finance products, savings and ISA's, and we organise them successfully. None of our previous banks gave us the service we get now. The last one (NW) closed all the branches in estate Agencies, which meant a round trip of 44 miles to the nearest main branch. For us, and many of our generation, our local TSB is banking as it used to be, with the added bonus that day-to-day banking can be carried out online.

Now bring on the cynical comments...

David555

Living in a fairly large city the bank closures haven't affected me too much though my bank has closed at least 2 branches over the years here. While I do most my banking online now days I make around 8 trips a year to my bank. paying in money I've lent to friends who pay me back in cash, money I receive when I sell stuff locally on sites like gumtree, every few months I'll pay in any coins I have laying around. As others have said if you need a big withdrawal the branches are the place you have to do it due to the cash machines having daily limits.

No wonder the post office queues are so long these days if people are having to use their local PO for banking! :eek:

This day and age it's all about profits though, move the call centres aboard for cheaper labour, close lots of branches and replace humans with machines. The last Barclays bank I was in they had removed all the manned counters and replaced them with self service machines which took forever to be served as nobody knew how to use them or they just didn't work. Having to wait for the 1 member of staff to run back and forth like a headless chicken helping everyone and fixing the machines.

If my bank did pull out of my area then I'd change bank. If all banks closed their branches in the future I would just get a good safe and keep my money at home.

elona

I have direct debits and do a lot of things online but last year I had two different occasions when fraudulent transactions cropped up, my card was changed etc and I needed to go to the local branch and explain the situation and get some money to tide me over till the new card arrived.

My bank is one being closed because of low usage but as the bridge collapsed and the town was cut in half for the last year that is hardly surprising.

We have gone from three banks to two and now it looks as if it will be one that is only part time. I am just glad there is still a post office near to me where I can withdraw cash safely. I don't want to feel I need to have a large cash amount in the house in order to manage as it does not feel safe or sensible.

takman

Robisere wrote: »

. We have several finance products, savings and ISA's, and we organise them successfully. None of our previous banks gave us the service we get now.

Are all your accounts with the same bank?.

That's another big problem with bank branches is that people tend to go in and have these meetings with friendly staff who are happy to help them open as many financial products as they can.
The problem is that if use just one bank for all your financial products you are not getting the best deal by shopping around.

In the time it would take most people to get to their local branch I can go online and look at every financial provider and open the best account.

Like many people on here I have many different current accounts and regular savers to get 3, 4, 5 & 6% interest on my savings and I have never needed to go to a branch to manage any of these accounts.

The main reasons people seem to go to the bank is for cheques and cash transactions. Cash transactions can be easily avoided anyway, if anyone wants to pay me money then I tell them to transfer it straight into my bank and the same if I want to pay them. If it's a larger amount then bank transfer is safer than dealing in cash anyway. If it's a smaller amount then I don't mind cash and I can just spend it instead of using my card so no need to visit the bank to pay it in.

I do agree cheques are a problem and it's a shame they are still a valid form of payment. But hopefully the new digital cheque payment systems will make them much easier to process.

So really there is very little reason to visit a bank and I'm surprised that people like going there, dont they have anything better to do with their time?.

My grandmother who is almost 90 years old hasn't been to a branch of her bank since the local one closed a few years ago. She prefers to use her debit card because she feels safer by not carrying as much cash. She has also started using cash machines to check her balance and withdraw cash and telephone banking for any other enquiries. She could visit a branch in a nearby town where she regularly visits but hasn't needed too. So if she can adapt then it shows age also isn't an excuse.

takman

elona wrote: »

I have direct debits and do a lot of things online but last year I had two different occasions when fraudulent transactions cropped up, my card was changed etc and I needed to go to the local branch and explain the situation and get some money to tide me over till the new card arrived.

My bank is one being closed because of low usage but as the bridge collapsed and the town was cut in half for the last year that is hardly surprising.

We have gone from three banks to two and now it looks as if it will be one that is only part time. I am just glad there is still a post office near to me where I can withdraw cash safely. I don't want to feel I need to have a large cash amount in the house in order to manage as it does not feel safe or sensible.

You didn't need to go into the branch to report those transactions because it's easier to do it over the phone. That's also a reason why you should always have a backup account or atleast a credit card for situations when you can't access you main account.

Also you can withdraw cash from any cash point quickly and easily.

meer53

takman wrote: »

You didn't need to go into the branch to report those transactions because it's easier to do it over the phone. That's also a reason why you should always have a backup account or atleast a credit card for situations when you can't access you main account.

Also you can withdraw cash from any cash point quickly and easily.

Exactly. Banks fraud teams are never branch based, it's much better to speak directly to the fraud team in cases like this, all branch staff can do is pass on messages.

Mnd

We've lived in our town in Wiltshire for 13 years

We had
Barclays (I think)
Nat West
Halifax
Nationwide
HSBC
All gone, and this week Lloyds announced they are closing, that's it all shut.

But I cannot complain, I don't expect I've been in a branch 10 times in those 13 years, unfortunately it's a sign of the times