TSB has confirmed it is closing 11 of its 184 branches will close in 2025 and 2026, adding to the wave of high street bank closures across the UK.

The bank said the Peckham branch will also be relocating to a new site on the same street. Aaron Peake, personal finance expert at CredAbility said with more people banking online, it is no surprise high street branches are closing.

Peake said: “Banks argue that with fewer customers coming through the doors, it’s no longer cost-effective to keep all locations open, but that doesn’t make it any easier for those who still rely on them. Older customers, people in rural areas, and those less confident with digital banking could find themselves struggling to access basic services.”

If your local branch is shutting, it’s worth exploring all available options to keep banking the way that suits you. Alternative ways to bank include.

• Post Office banking: Peake said: “Many people don’t realise that the Post Office acts as a banking partner for most high street banks, including TSB. If your local branch is closing, this could be the easiest way to keep managing your money in person.”
• Banking hubs: “These shared spaces allow customers from different banks to do their everyday banking. They’re run by the Post Office and let you withdraw and deposit cash, manage accounts, and get face-to-face support. As of March 2025, there are 139 hubs across the UK with more expected to open.”

Two alternative high-street providers paying switch incentives:

• First Direct: Offers a free £175 for switching, access to a 7% regular saver, fee-free spending overseas and a £250 0% overdraft. To get the free cash, you can’t have ever had any account with First Direct, or an account with HSBC since January 2018.
• NatWest: Provides a free £150, plus £36 a year cashback and 6.17% interest linked regular saver. To get the free cash, you can’t have ever received a switch bonus from NatWest, RBS or Ulster Bank before. But it’s worth being aware the NatWest Group will shut at least 56 of its bank branches in 2025 and beyond.