Santander to close 95 branches

GeoffTF

Santander to close 95 branches (nearly a quarter):

https://www.bbc.co.uk/news/articles/ceqjp4lvr4wo

ChirpyChicken

Not surprised, i walk past my local one several times a week, seems quit or elderly people in

JuicyJesus

Quelle surprise.

As always, if people want to pay nothing for banking then they will get the cheapest possible service that can be delivered.

Their branch network is also massive relative to their actual market share.

GeoffTF

My local branch remains open. It always seems to be full of frenetic activity, but I do not use it. I have been banking online for over 25 years.

Hoenir

Never ending non news story.  We could always move to the international models of monthly account fees. Rather than free personal banking. That's subsidised by those that borrow money. 

WillPS

Hoenir said:

Never ending non news story.  We could always move to the international models of monthly account fees. Rather than free personal banking. That's subsidised by those that borrow money. 

What has that to do with branch provision tho?

Banks are shutting across the western world, not just in places where account fee-free banking is the norm:

https://www.newsweek.com/us-bank-closures-map-shows-where-branches-recently-shut-down-2018252

[Deleted User]

My local one is busy some days. 

Hoenir

WillPS said:

Hoenir said:

Never ending non news story.  We could always move to the international models of monthly account fees. Rather than free personal banking. That's subsidised by those that borrow money. 

What has that to do with branch provision tho?

Income covers costs. Basic survival mode of any business in the longer term. Technology has eroded the dominance of the major banks. 

HillStreetBlues

When I was with them had to make an appointment to visit a branch, couldn't book one as fully booked for the next 4 weeks!

WillPS

Hoenir said:

WillPS said:

Hoenir said:

Never ending non news story.  We could always move to the international models of monthly account fees. Rather than free personal banking. That's subsidised by those that borrow money. 

What has that to do with branch provision tho?

Income covers costs. Basic survival mode of any business in the longer term. Technology has eroded the dominance of the major banks. 

I don't see how that is any different with or without a monthly account fee being charged. Branches are still a cost centre and any business will analyse these to see if they get value.

GeoffTF

Hoenir said:

Never ending non news story.  We could always move to the international models of monthly account fees. Rather than free personal banking. That's subsidised by those that borrow money. 

It is not just free banking. The banks pay us to bank with them, with a range of perks and golden hellos. The people with less money and those who do not manage their finances so well foot the bill.