TSB reduces branch network by a third and loses 900 jobs

London7766551

eskbanker said:

London7766551 said:

In that case I am curious as to your first post regarding post offices. I suggested they were not a replacement for branches, hence my suggestion for common branches. Indeed the banks must change a lot too if they are to go digital only. HSBC already has this ambition that I am aware of.

I don't see any inconsistency in the remarks about post offices.  My earlier post was about how banks tend to cite the fact that some facilities are available in post offices when closing branches, but my later comment related to them not being direct like-for-like replacements, i.e. post offices don't offer full branch facilities for opening accounts or mortgages, etc.

London7766551 said:
We will see about the fantasy. Banks have a shock coming if they think they can just get rid of cash....

Sounds like a strawman to me - which bank has said they can get rid of cash?  Clearly cash usage continues to fall but I don't think anyone is saying it'll stop at any point in the foreseeable future, which is why the curve below flattens:

London7766551 said:
....and shut up shop everywhere.

To me branch closures are a different issue from declining use of cash - not completely unrelated but certainly not intertwined in the way you seem to be suggesting.

If the banks close and take the cash machines with them, people will find it harder to get cash.

I suspect we will see a cashless branch in the near future. 

eskbanker

London7766551 said:

eskbanker said:

To me branch closures are a different issue from declining use of cash - not completely unrelated but certainly not intertwined in the way you seem to be suggesting.

If the banks close and take the cash machines with them, people will find it harder to get cash.

I suspect we will see a cashless branch in the near future. 

Not sure why you'd conclude that cashless branches are the direction of travel, but on the first point there are way more ATMs than branches and they're all generic, so removal of a branch-sited ATM is nothing like as significant as the branch itself closing.  It's clear that branches, ATMs and cash usage are all declining - as I understand it the view of the industry is that lower ATM numbers are an effect of the reduced cash use but you'll perhaps perceive that they're the cause....

Old_Lifer

It is not just the elderly and those on low incomes who use cash.

We should not forget those who are disabled and may not  be able to use a card or cash machine  and who rely on cash.   I know a number of disabled adults who are in this position.

My local  W H Smith became 'cash only'  a few months ago  but after a while went back to accepting card and cash payments.  Presumably not taking cash was hitting their bottom line.

eskbanker

Old_Lifer said:

My local  W H Smith became 'cash only'  a few months ago  but after a while went back to accepting card and cash payments.  Presumably not taking cash was hitting their bottom line.

Presumably that was meant to be 'card only'?

Old_Lifer said:

We should not forget those who are disabled and may not  be able to use a card or cash machine  and who rely on cash.   I know a number of disabled adults who are in this position.

That raises an interesting point - surely anyone with such a disability could sue a card-only 'bricks and mortar' retailer for discrimination under the Equality Act 2010 by virtue of not making what could be construed as reasonable adjustments?

Old_Lifer

Thank you   eskbanker .   It should indeed  read  'card only'.    I shouldn't eat and type at the same time.

Old_Lifer

Interestingly,   I've heard the discrimination aspect  mentioned a few times  recently.

However,  the disabled  people I know in this position  are  likely to just start shopping elsewhere  (and perhaps their families and friends too).

garmeg

jonesMUFCforever said:

Well some locations will fare better than others - for example if you live in the Lleyn peninsula or Isle of Anglesey the nearest branch (after the closure of Prestatyn) will be Wrexham (or Chester as the crow flies) the whole length of North Wales!

It's Llyn Peninsula or Pen Llyn. Not Lleyn. That term hasnt been used for donkey's years.

Picking out Abersoch at the tip of Pen Llyn the nearest branch is Aberystwyth which TSB says is about 35 miles away.



However, by road it is 78 miles, lol.

Oops TSB 😀😀😀😀😀

EarthBoy

Old_Lifer said:

We should not forget those who are disabled and may not  be able to use a card or cash machine  and who rely on cash.   I know a number of disabled adults who are in this position.

Where do they get the cash from if they can't use a cash machine?

The disabled people I know find using cards much easier than struggling with cash. 

London7766551

eskbanker said:

London7766551 said:

eskbanker said:

To me branch closures are a different issue from declining use of cash - not completely unrelated but certainly not intertwined in the way you seem to be suggesting.

If the banks close and take the cash machines with them, people will find it harder to get cash.

I suspect we will see a cashless branch in the near future. 

Not sure why you'd conclude that cashless branches are the direction of travel, but on the first point there are way more ATMs than branches and they're all generic, so removal of a branch-sited ATM is nothing like as significant as the branch itself closing.  It's clear that branches, ATMs and cash usage are all declining - as I understand it the view of the industry is that lower ATM numbers are an effect of the reduced cash use but you'll perhaps perceive that they're the cause....

I think we all agree cash use is falling, how many of these free cash machines are at existing banks? One branch often has three-five at least. Once the banks are gone we will be paying to use the ATM I suspect.

It is just my opinion about the cashless branch. But I think it will happen. Banks save money, push the cashless idea too.

https://www.businessinsider.com/rbs-plans-to-open-cashless-bank-branch-2019-11?r=US&IR=T

Shakin_Steve

Not really adding to the discussion about a cashless/branchless society, but I would have no problem using cash at any of the places I visit regularly. All local supermarkets take cash, as do most(all?) of the shops along our local high street. Every petrol forecourt in our area accepts cash and my window cleaner had no objection to a fiver and a two pound coin earlier this evening.
I can't really see any problems day to day and all utility bills can be paid by direct debit, so where's the big problem?
If I left home with cash only, I don't think I'd have any bother getting through my day.