Bank to close Grove Street branch

by Lisa Reeves

Wednesday 27^th May 2015

Wed 27^th May 2015

The Royal Bank of Scotland has announced that it will close their Grove Street branch, which only 18 people are using on a weekly basis.

The company has confirmed that they are closing this branch on Thursday 13th August because the number of transactions at the branch has reduced by 35% since 2011 and two thirds of their customers already use other branches in the area.

Their closest branch is on Water Lane.

A spokesperson for RBS said "Generally, there are now more ways of banking with us than ever before and, as a result, our customers are increasingly using alternative ways of banking with us.

"Across our network, branch transactions have declined by around 36% since 2010 whilst online and mobile transactions have grown by more than 300%, and only 9% of our total transactions are now undertaken in our branches in comparison to 25% in 2010. The decision to close a branch is never taken lightly, but we have to respond to these changes.

"We do understand that some people do not want to use our online or mobile phone facilities and would prefer face to face banking. Our branch network will remain the cornerstone of our service to customers and we will continue to have the second largest branch network in the UK.

"We also have the largest Mobile Bank fleet in the UK, and we have invested heavily in providing banking services in the 11,500 Post Office outlets."

Tags:: Grove Street, Royal Bank of Scotland

Comments

Here's what readers have had to say so far. Why not add your thoughts below.

DELETED ACCOUNT

Wednesday 27^th May 2015 at 11:32 am

I note the phrase from RBS - "only 18 people use it on a weekly basis" - in other words there are only 18 people who go in each week and every week - I suspect that is on par for the course for every bank, since most people won't need to go to the bank every week.

The one on Water Lane is a bigger branch but has more office space upstairs and that is essentially why RBS is keeping that one, despite the fact that because of Grove St's location you can bet that it actually has more through - put of money because it was there long before the Water Lane branch.

The Water Lane branch has no parking to speak of, and this road is heavily congested at all material times. The Grove St branch has disabled parking outside, and then the Waitrose carpark close by. But, then again, retail bank customers seldom figure in the calculations made by banks these days. As to using the Post Office outlets - when is the Post Office not packed to the rafters?

Dave Cash

Wednesday 27^th May 2015 at 2:15 pm

Jackie, I think the Grove St branch preceded Water La as it was a William & Glyn's at time of RBS takeover, so has been a bank for at least 45yrs.
Despite parking restriction Water La offers more parking for all motorists.
Counter footfall is lower for most banks because visitors tend to use the ATMs, many no longer offer Night safe's for receipt of o/n cash/cheque deposits.

Barry Buxton

Wednesday 27^th May 2015 at 2:45 pm

I'm not surprised that a Mr Cash knows a thing or two about banks!

Bob Bracegirdle

Wednesday 27^th May 2015 at 3:34 pm

Good Heavens. Williams and Glyns? My father banked there before the War when it was Williams Deacons. It well precedes the Water Lane branch and is the original I guess. The Water Lane branch used to be on the other side of the road beyond the old North Western bus garage and was opened in the 50s I think. My account has always been there. In other words when they were an old fashioned sober bank!

Nick Jones

Wednesday 27^th May 2015 at 5:09 pm

Sad news for the staff........... BUT Please Not another Coffee shop !

Simon Worthington

Thursday 28^th May 2015 at 8:32 am

This branch has been surplus to requirements for years. I presume a lease has ended. Great venue for opticians, coffee shop, charidee shop, etc. Bear in mind that RBS may have to close all branches in England or rebrand. There are too many financial businesses competing in the town anyway.

Lynne Prescott

Thursday 28^th May 2015 at 10:07 am

This is the second bank closure to be announced in a couple of weeks (YBS is also closing). I understand the economics of branch closures, but cannot understand why banks will not now consider more innovative and customer-focused solutions such as sharing branch networks in the way they already share the ATM network. In that case, customers would still have access to infrequent but necessary branch-based transactions without having to travel beyond their own High Street

Stephen Armstrong

Thursday 28^th May 2015 at 12:46 pm

Rather a disingenuous comment about 18 people visiting every week. I happen to go every weekday to use the safe deposit for work use and I almost always have to queue to get served, so I have no idea why they say it is under used. Saying that, I can understand that having two RBS banks in the same town is a bit of a waste. It just means that I will have a longer walk to get to the other branch each day.

Thursday 28^th May 2015 at 1:54 pm

It looks like today RBS have been instructed to sell off its William & Glyn brand to encourage expansion of the retail banking sector. It is possible this closing branch could be sold together with this sell-off as a functional bank. I understand there is still a question over the Co-operative Bank, Ald Rd. (ex Britannia B Soc) as the Co-op Group re-organise.
Perhaps a Mutual Building Society or even a new Credit Union may be interested in one of these available bank premises?

Pete Taylor

Thursday 28^th May 2015 at 2:10 pm

Co-Op have already written to customers advising of closure. So that's three banks gone.

Fiona Doorbar

Friday 29^th May 2015 at 8:21 am

It's an eyesore anyway!