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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Sad about bank closures

70 replies

CallCollect · 01/03/2023 20:44

Another suburban bank I've got fond memories of is closing soon - one I've got a fond memory of opening an account back in 2008. It's in a sort of 'suburban high street' - ish /small shopping area.

I feel so many of the 'big 4' have closed since around 2010 - not in the city centres and larger town centres perhaps but in villages/smaller towns and suburban high streets.

AIBU to feel a bit sad about this ?

OP posts:
Isyesterdaytomorrowtoday · 01/03/2023 21:12

‘Fond memories’ - when was the last time you actually went in?

ultimately unless people want to start paying for current accounts then the overheads of having bricks & mortar high st shops are unsustainable

Original poster
CallCollect · 01/03/2023 21:16

Fair question - last time I went in the one that's closing was when j opened it tbh - 2008 - but I've got gong memories of that time for personal reasons. I have been in another high street suburban 'big 4' bank within the past 4 months I would say so it's not like I don't use them at all
Fair comment about overheads etc - it all seems to have changed since around 2010

OP posts:
Original poster
CallCollect · 01/03/2023 21:16

Fond not gong - sorry for typos

OP posts:
FourEyesGood · 01/03/2023 21:18

I find it quite odd that anyone could have ‘fond’ feelings about a financial institution. But yes, the death of the high street is something to be lamented.

PaulRuddDoesntAge · 01/03/2023 21:18

Yeah sorry YABU. Branch banking generally isn’t profitable anymore. The fact you never visited that particular branch again in the last 15 years evidences this point very well.

It really isn’t something to feel sad about, unless you are significantly impacted, which you are not.

MrsBunnyEars · 01/03/2023 21:19

Would you be willing to pay for your current account to subsidise the space?

Original poster
CallCollect · 01/03/2023 21:20

MrsBunnyEars · 01/03/2023 21:19

Would you be willing to pay for your current account to subsidise the space?

Realistically - no - especially since I've discovered online banking which was a godsend during lockdown

OP posts:
DoesItHaveKosovo · 01/03/2023 21:20

I can’t imagine having fond memories of opening a bank account but YANBU to be sad.

There’s reason I’d go into a branch these days, except to deposit the contents of DS’s piggy bank occasionally. But I do feel for those who struggle to use online banking and are running out of branches to go to.

Original poster
CallCollect · 01/03/2023 21:21

FourEyesGood · 01/03/2023 21:18

I find it quite odd that anyone could have ‘fond’ feelings about a financial institution. But yes, the death of the high street is something to be lamented.

Tbh it's fond memories of 2008 rather than the financial institution, realistically

OP posts:
cornflakegeneration · 01/03/2023 21:21

I can't believe this is a thread

Original poster
CallCollect · 01/03/2023 21:21

PaulRuddDoesntAge · 01/03/2023 21:18

Yeah sorry YABU. Branch banking generally isn’t profitable anymore. The fact you never visited that particular branch again in the last 15 years evidences this point very well.

It really isn’t something to feel sad about, unless you are significantly impacted, which you are not.

Fair enough, yes

OP posts:
Original poster
CallCollect · 01/03/2023 21:23

DoesItHaveKosovo · 01/03/2023 21:20

I can’t imagine having fond memories of opening a bank account but YANBU to be sad.

There’s reason I’d go into a branch these days, except to deposit the contents of DS’s piggy bank occasionally. But I do feel for those who struggle to use online banking and are running out of branches to go to.

Fond memories of 2008 tbh which was magical. Well for me anyway!

OP posts:
Isitsixoclockalready · 01/03/2023 21:24

I understand your point OP. It's a memory from your younger days and it is sad to see so many high street outlets closing

tulippa · 01/03/2023 21:25

I can't remember the last time I set foot in a bank - it was before covid. Those who rely on going into branches to do their banking need support to manage it in other ways. Things move on.

Original poster
CallCollect · 01/03/2023 21:25

tulippa · 01/03/2023 21:25

I can't remember the last time I set foot in a bank - it was before covid. Those who rely on going into branches to do their banking need support to manage it in other ways. Things move on.

I still go in to deposit cheques

OP posts:
MrsBunnyEars · 01/03/2023 21:28

You can do cheques on most baking apps (and if you can’t, change bank!)

ConcordeOoter · 01/03/2023 21:31

Sorry YABU. They'd feed their customers into giant blenders and bottle the pulp if anyone would buy it. You might as well get sentimental about a scorpion.

Brightstar84 · 01/03/2023 21:39

Oh so the banker bashing has started I see….. 🙄

High street banks in the U.K. overwhelmingly provide banking free of charge to their personal customers - for businesses and indeed personal customers in many other countries - free banking is a myth and there are charges per DD, money transfer, cash withdrawal, sometimes just a monthly maintaining the account payment. They can only do this if they keep an eye on their costs. By keeping an eye on their costs they can also lend at more competitive rates which is good for the consumer.

I do feel wistful about the demise of the branch network simply because it was another sign of neighbourhood community that is disappearing. All of the ‘big 5’ U.K. banks are committed to having branches open, even if the number have reduced, simply because there just isn’t the footfall to warrant the prior network due to the increasing sophistication and ease of online / app banking.

BankOfDave · 01/03/2023 21:48

I recently went into a ‘big 4’ city high street bank, first time in years as knew it was something I couldn’t do online. Bank I’ve been with for years who have access to all my data/accounts. Opening an account for a pre-teen. This is my experience:

Queue to see the customer service counter
Tells me I need an appt to open the account
An appt will be 3 weeks (!) Not great but not urgent please book me in
Faffing around then tells me she can’t do it as she’s from another branch and doesn’t have access, I need to queue again
I’ve wasted over 20 mins and huge queue for the tellers so leave

Go in later in the week and manage to get an appt in 3 days time. Great?! I know think 3 days is beating the system, see what they did there?

Go to appointment hoping for 3rd time
lucky, armed with A LOT of proof of identify for both me and DC as requested
Took over an hour to enter information for an account for an 10 year old WITHOUT a debit card that I’m a trustee for. He’s walking in and out of the room endlessly, to a printer to give me reams of paper which is mostly irrelevant for the account
At the last minute I’m told because I have a different surname to DC I can’t do it
I was less than pleased. Luckily had a mortgage statement that has my and the (same) fathers surname jointly with our address. He agrees to ‘see the manager’ which is another 20 mins wait and apparently I’m given permission. “Thanks, I’m so grateful” 😡

Well if you’ve got this far you have more patience than I did that day. Absolutely shocking customer service, can never get through on the phone either. It’s no surprise they’re closing. No one wants to go in and they don’t want you in there either. Just give us all your money, we’ll charge you and if you could never bother us again that’s be great.

BigFatLiar · 01/03/2023 21:53

MrsBunnyEars · 01/03/2023 21:19

Would you be willing to pay for your current account to subsidise the space?

Unless your current account is giving you a reasonable rate of interest then you probably are. Even savings accounts giving poor returns.

ScattyHattie · 01/03/2023 22:14

I miss the highstreet banks, it was easier to just hand over card for them to do it all for you and were usually very knowlegable if had questions which can be lacking with mobile/online. I never needed to use branch much so closures not huge inconvenience but must be a pain if you do or small business/shop with cash to deposit as mainly just city branches left so can be miles away with parking charges & probably busy.

BankOfDave · 01/03/2023 22:22

And as if banks need to charge retail customers more on current accounts to pay for physical branches! Good one 😂

Yes, it’s banks who are having a really hard time in the economy and on the high street at the moment. Feel terrible for them 🤔

MrsMoastyToasty · 01/03/2023 22:22

I workedfor a high street bank in the mid 80s until the mid 90s. As possible my contract I was expected to work at any one of about 25 branches in a 20 mile radius from my "home" branch. Most of those branches have closed

SlightlySusan · 01/03/2023 22:51

It can be frustrating. Sometimes you need to go in person. We had to go for something to do with our mortgage (ID related if I remember correctly) that was with a bank and it was handy to nip there. We recently had to go to get a larger sum of cash out than the cash machine allows and one had closed down, one was open 1% of the day and it was a real palaver and took ages.

I've also just opened ab account with a big bank and I'd have been much more comfortable in person than filling forms and hoping I'd done it correctly.

I do get you but other than that, I rarely go in.

EmmaEmerald · 01/03/2023 22:57

Well, this is weird
There are lots of reasons to be worried about branch closures and Post Office closures, the decline of cash etc
Sentimentality wasn't on my list but I suppose it's ...sweet?

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