Colin Smyth MSP
South Scotland MSP Colin Smyth has commented on the news that the TSB branch in Stranraer is set to close next year.
TSB announced today that it will close 70 branches in 2022 including the TSB Bank in Stranraer as it responds to declining branch use and increasing numbers of customers switching to digital banking services.
Colin Smyth said: “This is terrible news for the community in Stranraer. While many people have undoubtedly changed the way they bank, a lot of my constituents, especially those who are older or more vulnerable, still rely on being able to attend a physical bank and speak to someone directly.
“For far too long our bank branches have been disappearing from our high streets and this news will be devastating for the staff in Stranraer. The company has said it will try and offer staff another role, but it is questionable how practical this will be.
“While the TSB will claim fewer people are using branches, the industry has been useless at trying to find solutions such as shared banking hubs that more than one bank uses for their customers to cut costs. It also brings home once again the failure of the UK Government to put in place tighter obligations on banks when it comes to the closures such as mandatory consultations.”