Another blow for branch users as bank cuts hours
CONCERN over access to bank branches grew yesterday as Santander announced it is cutting opening hours.
From July, they will operate from 9.30am to 3pm on weekdays, instead of until 4.30pm. Santander says it is in response to long-term trends in customer behaviour.
The shake-up will also see 316 branches switch to a half-day service on Saturdays, closing at 12.30pm.
Earlier this week, consumer group Which? warned bricks and mortar bank closures are threatening to deprive the elderly and vulnerable of access to cash.
Another 120 were announced in the past four weeks and almost 5,000 have gone over the last seven years.This is a rate of 54 branches a month,Which? said.
Santander yesterday said branch staff will still be available for pre-booked face-to-face appointments between 3pm and 5pm, if customers need support unavailable through alternative channels.
But Jenny Ross, editor of Which? Money, said: “Santander deserves credit for taking greater account of customer needs than some of its rivals that have slashed their branch networks.
But this continues a concerning overall trend of banks chipping away at face-to-face services and opening hours.
“While proposals from individual banks and the industry to protect cash are welcome, a piecemeal approach is unlikely to be enough to safeguard access to cash for the millions who rely on it.” Santander said the number of customers using its branches fell by a third over the two years before the coronavirus pandemic, by a further 50 per cent in 2020 and by 12 per cent last year.
It added a handful of branches in shopping centres will be excluded from the changes. The new opening times will take place from July 18 and the bank said there will be no compulsory redundancies. Santander plans to beef up phone support and said branch staff will help on the phone alongside their current face-to-face roles.
The Government has said it will legislate to protect the future of cash. Several industry initiatives have been taking place, such as cashback in shops, and shared “banking hubs”.
BANK customers will groan at Santander’s decision that most branches will only open from 9.30am to 3pm on weekdays from July. This has fuelled worries that banks are “chipping away” at face to face services.
Online banking has delivered many benefits but there are occasions when people need to speak to someone in person. Few things are as important as managing household finances, and vulnerable people in particular may want an alternative to virtual banking.
Those high street banks that remain open for business will reap dividends of goodwill.