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TSB announces closure of Dundee and Forfar branches next year

dundee forfar tsb
Dundee's Coldside TSB branch will close in 2022.

Banking firm TSB has announced the planned closure of 70 branches nationwide in 2022, including in Dundee and Forfar.

Nine branches will be closed across Scotland as banking officials claim more customers are banking digitally.

The Coldside outlet on Strathmartine Road in Dundee will shut on April 13 next year.

The Forfar bank on East High Street will close its doors the following day.

TSB said 150 jobs will be affected across the UK, however all staff will be offered alternative roles within the company.

‘Difficult decision’

A spokesperson claimed in-branch use has “declined further” with more people opting to bank online.

They confirmed the branches set to close currently carry out around a third (32%) fewer transactions than the TSB national average.

TSB’s chief customer officer, Robin Bulloch, said: “Closing branches is an incredibly difficult decision to take, but we have to respond to the changes in the way people bank and provide the right mix of services for all our customers now and into the future.

“These changes allow us to maintain an extensive branch presence across the country.”

‘Better suit customer needs’

He added: “They are accompanied by a significant investment programme to upgrade branches to better suit customer needs.

“Where it takes longer to get to the nearest branch, we will introduce more ‘pop-up’ services in communities.”

dundee forfar tsb
Staff affected by the closure will be offered alternative roles in company.

The nationwide bank has also blamed the Covid-19 pandemic for accelerating the shift away from branch services.

It said that, despite the closure of branches, including the Dundee and Forfar banks, more than 90% of customers will still be able to drive to a TSB branch within 20 minutes.

TSB also promised extra support for vulnerable customers who will be hit by the closures.

There is also a Post Office or free-to-use ATM within a mile of each closing branch.

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