Santander closing down more than 100 branches

Thrugelmir

There's still sufficient bank branches for those that need of "other" occasional services.  

od244051

Also I have noticed that the few branches that are closing - disabled people can park outside the branch. The ones staying open are down pedestrian or buses only roads. 

eskbanker

Deleted_User said:

eskbanker said:

In the absence of any reason to believe they're fabricating their figures, the analysis for closing my local branch seems self-explanatory (I think I set foot in it once in about seven years, although accept that posters on an online finance forum aren't representative of the population as a whole):

89% of customers transacting at this branch already use a variety of ways to complete their banking.

34% of this branch's customers also use an additional Santander branch.

71% of customers have transacted using our Online, Mobile or Telephone Banking services.

37 customers have transacted six times or more and only use this branch.

Did they release how many people actually visit each branch? not %, the actual numbers of people. 

Not that I can see, beyond that last stat about regular users - I don't think they're under any regulatory obligation to publish total customer volumes, which could be considered commercially sensitive, although obviously the cynic would observe that they'll unsurprisingly choose to share the statistics that endorse their arguments about the alternatives available to branch visitors and so on.

I don't actually know if there's a defined customer engagement process that banks are required to follow but note that Santander commit to sharing feedback, which will probably echo the points made on this, and similar, threads - they obviously don't anticipate reversing closure decisions but seem to imply that they'll consider mitigation:

Summary of feedback

We’ll publish online an overview of responses and any complaints received from customers or the community including our responses and actions taken. These findings will be available on santander.co.uk/uk/our-branches two weeks pre closure.

naedanger

89% of customers transacting at this branch already use a variety of ways to complete their banking.

34% of this branch's customers also use an additional Santander branch.

71% of customers have transacted using our Online, Mobile or Telephone Banking services.

37 customers have transacted six times or more and only use this branch.

The above figures are a bit meaningless.

89% of customers use other ways of completing their banking. So what? When they do use the branch it might be because it is necessary. So maybe 100% of customers who used this branch did so because it was important to do so. (I do most of my banking online but recently had to use the branch to set up POAs for my parents, and when acting as an executor. The bank demanded I visit a branch.)

66% of their customers don't use another branch - seems quite a big number.

71% have used another method of transacting, but that does not mean their visits to the branch could necessarily be done by another method.

Only a very small number of customers using the branch for all their banking needs does not necessarily mean that the branch is not needed for other purposes e.g. for the less routine banking transactions.

That said I don't blame the banks [other than for some of their spin]. Clearly they think it will be better for them to close their branches. If this becomes a social problem then it is ultimately for the government to act.

[Deleted User]

eskbanker said:

Deleted_User said:

eskbanker said:

In the absence of any reason to believe they're fabricating their figures, the analysis for closing my local branch seems self-explanatory (I think I set foot in it once in about seven years, although accept that posters on an online finance forum aren't representative of the population as a whole):

89% of customers transacting at this branch already use a variety of ways to complete their banking.

34% of this branch's customers also use an additional Santander branch.

71% of customers have transacted using our Online, Mobile or Telephone Banking services.

37 customers have transacted six times or more and only use this branch.

Did they release how many people actually visit each branch? not %, the actual numbers of people. 

Not that I can see, beyond that last stat about regular users - I don't think they're under any regulatory obligation to publish total customer volumes, which could be considered commercially sensitive, although obviously the cynic would observe that they'll unsurprisingly choose to share the statistics that endorse their arguments about the alternatives available to branch visitors and so on.

I don't actually know if there's a defined customer engagement process that banks are required to follow but note that Santander commit to sharing feedback, which will probably echo the points made on this, and similar, threads - they obviously don't anticipate reversing closure decisions but seem to imply that they'll consider mitigation:

Summary of feedback

We’ll publish online an overview of responses and any complaints received from customers or the community including our responses and actions taken. These findings will be available on santander.co.uk/uk/our-branches two weeks pre closure.

HSBC certainly don't have one as far as I know, I heard my branch was closing from the news. I think they sent a letter as well after. 

[Deleted User]

Just got an email from Santander to tell me my local branch is closing. But that i need not worry, as there is another branch within 5 miles. Yes, the one in the city centre, where it costs a fortune to get parked....assuming you can find parking at all.

Excellent.

I wonder how much money Santander will save from the sale of all these properties, the reduction in ground rates, business tax, and staff.

I wonder if those savings will be passed on to me as a customer. Oh wait, no i don't.

gsmh

Many of these bank branches are like tombs - particularly in the cities. Great big, expensive buildings where most customers seem to be making transactions they could easily do online, at home. Unfortunately Metro Bank 'stores' even more so. Its stores are devoid of anything particularly useful apart from dog bowls. Bank branches are an anachronism and I have banked with pretty much all banks over the years, some with branches, some with none, and there really isn't a practical difference - in fact where a bank has many branches I am put off by the fact that my money goes towards their upkeep.

Gandalf644

The problem with banks ‘passing the buck’ onto the Post office is that if you want to do a simple ‘over the counter’ transaction around December time you are stuck behind multiple people posting parcels to every god-forsaken part of the world (and no doubt haven’t properly completed the customs labels or whatever). Or behind people posting off numerous articles they are selling on e-bay etc. Or collecting pensions etc.

Last year my local Crown Post Office had moved into WH Smiths shop. Even before December, people were queuing outside the doors for most of the day (and not even social distancing).

Until banks permit people to do everything online or via the app (for example, pay in cheques via the app) they should be mandated to keep branches open, particularly where there is no disabled access to the ‘other’ more distant branches they say to use.

Another problem is that when branches invariably close, the ATM’s go as well. Most Post Offices do not have ATM’s and the ones in ‘Convenience Shops’ inconveniently charge a fee. If you are lucky enough to have a major supermarket with ATM close by great – but of you haven’t……………..

Alternatively (and this is really novel) why don’t they club together and keep a simple counter service for the major clearing banks all in one building with a free ATM outside.  

colsten

Deleted_User said:

For most people up to to about 60 they can manage it fine, above that the problems begin.  

Not sure where you got the 'about 60' from. I am rapidly approaching 70 and have been using online banking in one form or another since at least 2005, probably much longer. Since then, I have probably been inside a bank half a dozen times, mainly to get change for parking meters. Thankfully, the meters not accepting contactless payments, or car parks not accepting electronic payments, are now far and few between. I can't remember when I last paid cash for anything, in the UK or anywhere else, and the only time I write a cheque is when some stuck-in-the-past Building Society requires an opening deposit by cheque. I also rarely need to call banks as near enough everything can be done electronically now. I should add, I have not had a need for a mortgage or loan for some time now, so my more recent experience is 'limited' to current, savings and investment accounts. My last mortgage, taken out in  1998, was applied for and managed online. 

My contemporaries and many older people I know are, in the main, doing no different to me. May be people who were 60ish in 2000, and people who had no internet access, were/are not so ready to embrace online banking but few people who are  60ish nowadays will insist on doing their banking in the 20th century way. If anything, the inhibitors to accepting technological advances are mainly socio-economic rather than age.

BTW, I have now switched to app banking wherever it is possible, and use online banking just as a back up.

molerat

Another one here closer to 70 than 60 and have been using on line banking for years.  The only reason I went into branch was to use the ATM in the dry !  Many people don't use internet banking because they don't want to, not because they can't so they need to wake up to the new way of doing things.  I have mentioned before that my SIL who is younger than me still does things the old way.  She needed to transfer money between 2 different banks - withdrew cash over the counter in one and drove 20 miles to the other and paid it in ! She has admitted she doesn't want to use any form of non direct banking, even phone banking, as it is not safe. Pays council tax over the counter etc etc.