Leven TSB closure: Fife Council economy spokesperson stands by importance of physical banking provision

The TSB says it has not taken the decision to close its Leven branch lightly. However, it is one of nine branches in Scotland that are slated for closure by September of this year.

Following the Leven High Street closure, TSB in Glenrothes will be the closest available branch for in person services – 7.6 miles away.

“We have not taken the decision to close our Leven branch lightly, but our customers are banking differently – with a clear shift to digital banking,” a spokesperson for the Edinburgh-based bank said.

They added: “96 per cent of all TSB transactions now take place outside of a branch. We have seen a 43 per cent fall in the number of customer transactions across our branch network over the last four years.”

Regardless of changing habits, Fife Council’s economy spokesperson, Councillor Altany Craik (Labour) underlined the “importance of access to physical banking provision as a key strand of ensuring financial inclusion, particularly in areas of significant deprivation”.

“In these communities, access for personal and business customers to both withdraw and pay in cash remains a vital service which must continue to be provided,” Cllr Craik said.

“Access to finance is a key pillar of Fife’s community wealth building approach and I will continue to seek engagement with banks withdrawing services in the Kingdom.”

It’s not known how many people will lose their jobs in Leven specifically, but across Scotland, the TSB closures will result in 250 workers losing their jobs.

Unite the union, representing workers at TSB, has called the decision to cut jobs “a grave mistake.”

On a national level, the union is calling for the bank to “urgently reconsider” its branch closure plans.

“At a time when customers are increasingly concerned about financial fraud and often need support from a local bank branch this is the wrong course of action,” the union said in a press statement.

“TSB customers will rightly be concerned by today’s news and they will undoubtedly suffer a downgrade in service from these job cuts.”

However, if TSB stays the course, Cllr Craik said the council will help support any redundant workers.

“We work with the Partnership Action for Continuing Employment where there is a risk of redundancy when a business closes, and we’ll work closely with partners to support any staff affected by the proposed closure of business branches in Fife,” he said.

Responding to the closure announcement this week, Wendy Chamberlain, MP for North East Fife, said: “I’m disappointed to hear this news less than a month before the Leven Railway is set to open.

“The railway will bring lots of new people to Leven High Street and this closure really shows a lack of understanding of local parameters.

“I understand that the nature of banking is changing, and much can be done online, but internet banking is not suitable for all – particularly those who may not be comfortable with apps or who have poor internet connection.

“I appreciate that there will be support from TSB to help those switch away from face to face banking, but I will be pushing for continued pop-up services in Leven, as TSB do currently in Anstruther.”