140 across UK to close as branch transactions down 23%

The Putney branch has survived Santander's announcement today (January 23) that it is to close 140 of its branches across the UK amid increased use of online banking services. The company has reported that the number of transactions carried out via Santander branches has fallen by 23% over the past three years, while transactions via digital channels have grown by 99% over the same period.

A spokesperson said, "The way our customers are choosing to bank with us has changed dramatically in recent years, with more and more customers using online and mobile channels.

"As a result we have had to take some very difficult decisions over our less visited branches, and those where we have branches in close proximity."

Putney branch is one of the 100 Santander branches that will be refurbished over the next two years through an investment of £55m. The refurbishments will include a range of changes with a focus on personal service, convenience and community engagement.

Branches are to close in neighbouring Wandsworth and East Sheen.

With 1,270 jobs at risk the bank is now in talks with unions and expects approximately a third of staff to be redeployed within the company.

January 24, 2019