TSB to scrap all cashiers in on­line shift

The Daily Telegraph - Business - - Front Page - By Lucy Bur­ton

‘The way cus­tomers use banks is chang­ing. When they visit branches, their needs are more com­plex’

TSB is to axe its cashiers, putting al­most 1,000 jobs at risk as the pan­demic ac­cel­er­ates the shift on­line.

The high street lender, owned by Span­ish lender Sabadell, has told 929 branch staff that they need to re­train or take vol­un­tary re­dun­dancy as cashier roles are be­ing phased out.

Banks have been slash­ing branches for years as an in­creas­ing num­ber of cus­tomers use on­line bank­ing, with more than 3,300 shut since 2015, ac­cord­ing to con­sumer group Which?

But coro­n­avirus has ac­cel­er­ated that trend as foot­fall slumps. Use of ATMs halved dur­ing the coro­n­avirus out­break as cus­tomers shunned pa­per money to avoid spread­ing the dis­ease, fig­ures from cash ma­chine net­work Link show.

The mid-sized bank was al­ready in the mid­dle of plans to slash costs. Last year, it turned an an­nual profit for the first time since be­fore a botched com­puter up­grade in April 2018 that left al­most 2 mil­lion peo­ple locked out of their ac­counts for weeks. Cus­tomers will still be able to cash cheques and ac­cess other ba­sic fi­nan­cial ser­vices at TSB af­ter the cashier jobs have gone.

A spokesman said the way cus­tomers use their banks is chang­ing and that Covid-19 has sig­nif­i­cantly ac­cel­er­ated the use of dig­i­tal ser­vices.

He said: “When cus­tomers visit our branches, their needs tend to be more com­plex.”

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