All 55 people attending a public meeting in Stornoway unanimously opposed the permanent closure of the town’s TSB Bank. A further 27 objections were received from people who could not attend in person.
A group made up of island residents is now being established to engage with the TSB
Bank which indicates it intends to press ahead with a 3 September shut-down of its
Stornoway branch.
No compulsory redundancies are expected from the closure with existing staff working
from home in other roles when not covering a replacement pop-up service.
Andrew McIntyre, the financial institution’s head of public affairs, came under fire
over the bank’s plan to replace its Francis Street premises with a pop-up facility
- with a location in the town yet to be determined - to be manned by one person on
three days a week, 9am - 5pm.
However, this will mainly provide a “face-to-face chat” about money advice and help
with managing existing payments and arrangements. Many of the present banking services,
including cash withdrawals, deposits or cheque payments will not be available at
the pop-up.
In most other areas in the UK, a TSB pop-up site only opens once a week but this
is extended to three days weekly for island communities such as Lewis as travelling
to Inverness to the next nearest TSB bank was not feasible he told Martin Macleod,
one of the many people who grilled Mr McIntyre from the floor during the 90 minute
long meeting.
“How do you cash a cheque” from September, asked a small business operator.
He was told people could organise cheque payment slips with the branch before it shuts its doors for good but to carry out the actual transaction, “the post office is where you would do that.”
Andrew McIntyre promised to relay the strong feedback to TSB bosses that the audience want the bank to continue operations locally without change.
He said the TSB arrived at a “commercial decision to close in response to customer demand,” referring to the increase in online banking.
The bank should have held a public consultation first before dropping the shock news, and also failed give its loyal customers the courtesy of writing to tell them about “what was in the pipeline,” highlighted one lady in the audience.
Letters were due to arrive though letterboxes by the weekend responded Mr McIntyre, while the bank engaged with the Financial Conduct Authority process. Notice of 12 weeks is the recommended length of time with 16 weeks given in this case.
SNP election candidate Susan Thompson, received a loud round of applause following her address to the forum.
Drawing on her experience of working with one of the ‘Big Four’ banks for 25 years, she criticised the “driving of behavioural change that's led to the reduction of footfall and has led to people (but only those who are able to do so) to move over to digital.”
“And, it seems particularly unjust that the behaviour you have been driving has led to this decision.
“But people in this community who have not chosen to make those changes that you have been pushing” are being disadvantaged.
“Losing the ability to use cash - and its not all about notes coming out of cash
machines - but also clubs, societies and small charities. They all lose out because
people will not have cash in their pockets. I appreciate the TSB is not solely responsible
to the move to a cashless society but they are part of the problem.”
“Its the most vulnerable in society and those least able to stand up for themselves who are worst affected by these changes, and its changes the banks are making for themselves and that is particularly unjust.”
Charlie Nicolson, one the meeting’s organisers, was applauded, on appealing to the TSB to “relook at Stornoway and leave the bank here.”
Mr Nicolson recalled how the big banks only survived the 2008 financial crisis by
public money bail-outs.
And now, the TSB racked up £273 million in profits last year, a 29% increase on 2022 figures.
He explained closure will work against the aging population in the island community.
Instead of a one-stop service, TSB customers will have to go to the pop-up site and
wait to see a bank representative. Afterwards they need to head to a post office
to withdraw cash.
Mr Nicolson also pointed out the restrictions wheelchair users, people with disabilities and walking difficulties have in accessing the steps at the Stornoway Post Office.
He also urged the TSB to provide a local telephone number where people can call the
pop-up directly rather than face issues going through a centralised contact centre.
MP Angus MacNeil and Donald Crichton, the comhairle’s development services chairman, were on the panel at the meeting.
Mr MacNeil who hopes for a reversal of the closure plans said: “The staff of the TSB are liked and praised for their service and how helpful they are to customers.”
Donald Crichton, stressed island customers are “not happy” with axing the branch and called on TSB bosses to consider local feedback.
TSB Bank urged to halt Stornoway branch closure, local engagement group set up
26 May 2024