TSB make ‘18-min journey’ claim between Keynsham to Bedminster over branch closure plan
The bank has explained how it worked out the travel time
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TSB has issued a statement on plans to close its bank in Keynsham High Street - and explained how it has calculated an 18-minute journey time to the next nearest branch six miles away in Bedminster. The decision to shut the branch will leave the High Street with just one bank, a Halifax branch.
The closure of the TSB branch on May 2 is one of nine across the UK announced by the bank last week. In Keynsham, it follows the shutting of banks by Santander in July 2019, Barclays in February 2021 and HSBC in September 2022.
Despite remaining ‘committed to face-to-face services through a branch network’, TSB said the closure was part of its plan to ensure it met the current and future needs of customers.
In a ‘branch review’ published online, the bank said 74% of personal customers now use mobile, online or telephone banking - and that almost half use services at cash and self-service machines. A third of those who use the branch were aged 65 and over, it added.
The nearest branch, the bank said, was located in East Street in Bedminster - an 18-minute drive and accessible by public transport from Keynsham. When Bristol World checked the journey time today (January 23) at 3.35pm, it was 26 minutes.
When asked how the bank came to the 18-minute journey time, the bank said it was an average of five journey separate journey searches undertaken on different days and at different times.
A spokesperson added: “We have not taken the decision to close Keynsham branch lightly, but our customers are banking differently – with more using digital banking. Customer transactions at the branch have fallen by 49% between November 2020 and November 2022. There is also a Post Office or free to use ATM within a mile of the branch.”
The bank closure will lead to the removal of the ATM outside. However, there are other ATMs at Halifax, Tesco and Sainsbury’s on and and around the High Street.