To be upset my local bank is closing?

[CurlingChamp]

Our local bank is permanently closing in about 5 weeks. Aside from the general inconvenience that it will cause me, I feel sad at the social loss in my life.

I’ve used that bank mostly weekly, sometimes 2 or 3 times a week, for 18 years (I use it for business cash banking). There’s ladies working in that bank that have seen me through two pregnancies, and have watched my children grow up. I mean, I see them more than my own family!

The other day I was in the car with my DP and we drove past the bank. I said to him “I’m going to miss the bank when it’s gone, I’m really sad it’s closing.” He turned to look at me in amazement, laughing, and said “I wish I lived in your little brain!”.

Of course it’s not the only thing I worry or feel sad about, and of course life will go on, but am I am unreasonable to be sad about the bank closing?

To be fair, fewer and fewer businesses use cash these days. Most customers don't carry it. Even charities now use card machines for fundraising collections. So the need to bank large amounts of cash is fast disappearing - thank goodness, because counting and banking it was always a pain. I think you need to review your own business practices, OP.

It's understandable to most of us - I haven't had any reason to go into a bank branch for years, and I'm obviously not the only one.

DH has to pay in cheques and cash from a couple of clubs he is on the committee for, there is option to pay by bank transfer, cheque or cash so anyone can join. He is able to use the Post Office though for this and seems like the PO is mandated by the government to offer this service so it perhaps isn't something they have any choice in.

You've got to laugh at the post office staff being annoyed about this. Post offices are paid a good amount to provide these services, they don't do it out of the goodness of their heart. What next, getting annoyed that they take parcels in?

But like people have said already, being full of people doesn’t equate to making money.

Similar.

Last year I needed to take a large amount out of a building society account and pay it in to my bank account. The BS gave me a cheque ( there was no other way of transferring it, we checked) andit was way over the limit that can be paid in online.

Until I had to become involved in my DPs financial affairs through their POA I hadn’t been in a branch for a few years.
However actually logging a power of attorney is much easier face to face because in Scotland there is no online record of it, so it’s easier than photocopying and posting off the documents.
Then gradually as DPs faculties decline I have had to go to each financial institution to request statements are sent to me instead.
Online banking is great for the computer literate and for simple actions. Non standard activities are rarely programmed in ( probably nice to have on the requirements list) so without physical bank presence they are hard to do.
I wonder why they didn’t keep going with mobile banking travelling round that was successful in remote Scottish villages and islands. Reduced property overheads and allowed people who wanted to to physically transact.

@HoskinsChoice I think it's the people she's attached to as much as the convenience of the bank branch.
In a former life, I worked in High Street banking and have seen how much it's changed over the years. I'm still in touch with some of the people i worked with 25+ years ago. The last branch I worked in closed not long ago. One of the front line staff members had worked there their entire 40+ years career. They had a good relationship with the regulars, clearly evident by the number of gifts they received in the final week before closure.
Our local town has no banks now. It has a banking hub and to be honest, I've only been in it once in the 18 months since it opened - and that was just to pay in some coin, not to see my own bank representatives.
Banking hubs bridge the gap for those who aren't IT literate or who are elderly and need/prefer face to face contact but I can't say I've missed my local bank branch.

I regularly go in to deposit our church collection.

Also to deposit cheques for the kids from old relatives or HMRC.

Please don't take a car loan out from your usual bank! Go online, you need to compare to get the best deals. You are going to get royally screwed over if walking into a bank for a loan is your approach.

It's supply and demand. The vast majority of people never use a bank, they do it all online. It is not financially savvy for them to spend loads of money on rent and staff etc just for a handful of people. It's more cost effective to lose your business than pay the costs of running a branch. Also, who are you going to go to? Every bank is doing the same.

I think you're fighting a losing battle here. The days of high street branches is over - you need to learn how to use online banking or you will get very left behind.

You can bank cheques online. You just scan them in on your app.

from what I can gather from friends in the US, they have less of an issue with bank closures than we do in the UK. I find that interesting but I don't know what the reasons are.

US here and my local branch just closed last year despite being busy every time I went in. Now going into the further away branch is really time consuming because it's so busy. Several of the big banks are closing down lots of local branches and trying to consolidate.

Why are they using cash in their business nowadays. Cash is expensive to bank

There are no banks at all in my town now, and its 8 miles to the nearest one - our neighbouring slightly bigger town has lost all of its banks too. But we do have a banking hub in the library, and I understand from the oldies who use it that it is really good as the community bankers in there have more time and understanding of their needs than the branch staff did. And as a double bonus the library get money for hosting it and its paid for loads of extras there

I think it was very unkind of your DP to say that to you. Regardless of him possibly not being able to empathise with your sentimentality, he must surely realise that if you use the bank two or three times a week for business purposes, it will be a huge inconvenience.

And card payments are expensive too. We try to encourage bank transfers over card payments or cash, but we still have plenty of cash transactions (they get processed and tax paid before anyone goes on about trades people tax evading!)

Well I don’t bank with them myself but I was disappointed to see that the NatWest round the corner from me had a notice up saying would be closing sometime in 2027 because I find very handy that the cash point outside dispenses £5 notes, rather than only £10 or £20.
On the other hand, I tried paying in a cheque online for the first time recently and I was surprised how quick and easy it was.

I know but I don’t understand where all the older people are going to go.

How has it stayed open all these years??? Most of us lost banks years ago. Everyone manages.

Online! If they're too old to not know how to work online, they're probably too old to go to a bank too.

I asked my mum about this today. She is 80 this year and uses online banking. Hasn't been in a bank for years.

My DM has moved banks several times due to the various bank closures in her town. I’m sure the very last one is due to close too.

It is sad and I feel so sorry for older people in particular .

Plenty of old people go into a bank when they just need an ATM! Thats the point, there are already multiple places that offer most of the services banks offer. There’s really no need for an individual (not a business) to be going into a bank weekly or more!

I haven’t been to one in years (I appreciate I’m part of the problem.)

The last time I used a bank’s coin counting machine when I wanted to deposit its contents. I don’t have loose change these days as I never pay with cash etc.

The time before that was to cash-in a cheque from a relative, but since then it’s possible to do that via banking apps.

I had to take cash out and if I didn't have a Nationwide account it would have meant going to an ATM over a few days.
Hoping they they keep their pledge to keep branches open, although it's only for a year or so isn't it.

(if anyone is interested you can get £175 for switching to them at the mo).

The hubs are fine if you don't have any commitments and can get to them on the day your branch to be there.

I had issues with a debit card being cloned that had only been used to withdraw money so I prefer to use an ATM inside a branch.

I will be in the branch later this week, with all my ID to reactivate an account that is currently dormant.

I have gone into the bank previously to carry out simple transactions when the online service has been down.

I have to go into the city centre to bank now as all our local branches have closed. I can walk, or go on the bus. Inconvenient, but doable.

My disabled friend has no computer and is too anxious to use online banking on her old smartphone. She can drive into the city centre, but all the banks are now in a pedestrianised area that she cannot reach. She is effectively being denied banking services now and I am sure she is not alone.