Santander to close next summer

A notice has gone up at Santander announcing their closure at the end of June.

That’s a shame - I was planning on opening kids’ accounts there since it would be easy for my children to actually bring money in to the branch to pay in.

That is indeed a shame. Both my kids started with savings accounts there. One has graduated (ha!) to a student account and the younger now has a mini current account. We don’t often use the counter services, maybe a few times a year, but when we do it’s been something we couldn’t do via a cash machine. We are often to be found lodging birthday and Christmas cheques from older relatives who haven’t got the hang of online banking yet!

The other nearest branch is probably the one on Sydenham Road.

I was thinking about opening an account there, as I’m less happy with Nationwide these days and somewhere local to pay in cash and cheques is very useful. At least we’ll have Barclays + Post Office, more than some villages.

I think all bank branches will be gone sooner it later, i am afraid they share the same faith as travel agents

I could see Catford as an alternative, but not sure about Sydenham as I only looked at the notice briefly, which does make me wonder if it’s going as well?

Santander have already closed in Penge, which like FH will be next summer with only one bank.

I always thought that about the numerous estate agents, but they seem to flourish pretty well in Forest Hill.

I suppose it’s to force us all to do on-line banking. Unfortunately ‘on-line’ services have a habit of not always being accessible, so what do we do then?

I have the opposite problem. With my job as it is, I struggle to access physical bank branches during their opening hours.

Online banking is an accessibility dream for me, especialy with next generation mobile-first banking (Monzo, Starling etc).

“hey Siri, send Liz ten pounds using Monzo”

That’s my kind of accessibility

Oh yes for you it obviously works brilliantly, but it’s a shame we all have to be forced to do the same thing! I do use the machines more & more these days, so perhaps they could have followed the same layout as the one just past Bromley South Station which has only link machines with a small office & a member of staff present for any problems.

I had to go to a bank to pay some cheques in a few weeks back and it made me realise that I hadn’t set foot in a branch in about ten years. I think more big branches will close and we will be left with the micro branches @GillB describes above. Absolutely fine for me but I guess some folks prefer different things…
Don’t get me started on cash!

Begins immediate download

We’re steadily rolling out current accounts, but there’ll be a bit of a wait.

Once you get your hands on a monzo card you will never look back😃 back to topic now!
I think cheques will go sooner than bank branches so I wouldn’t worry to much

My main concern is the reduction in ATM’s, but we still have free cashpoints at Sainsbury’s, Barclays, the train station and a couple of free ones outside shops in Dartmouth Road.

Also a couple in walking distance at the Co-op and Tesco Express.

From October 2017, banks have been allowed to clear cheques from images, so soon you’ll be able to take a photo of a cheque that you receive using your phone banking app. Also, a cheque will clear in 2 rather than 6 days. (Google “check imaging” for details.)

If anything, it could even revive my use of cheques!

What is a ‘monzo’ Card??

Details here:

Monzo is a new bank. Accounts are operated entirely through your smartphone, and it’s very slick.

Ok then

I was considering opening accounts for my kids there. Until they are 11 they don’t get a card, therefore online banking is not really possible and branch closing will have lost them at least 2 new customers.

There is that saying that we change partners more often than our banks…

I notice that 30% of their branch customers use only FH branch (if 70% are using other branches too).

It would be good to know how many people are in that 30% as 30% of nothing is still nothing. On the other hand 30% of a large number can still be quite large.

How do you deposit cash?

I have my salary paid into Monzo, and made bank transfers from my legacy bank accounts. Monzo also makes it easy to receive money from other users.

There are talks of allowing cash to be paid in either via PayPoint franchises, post offices, or a partner bank. I’ll update this topic when they offer this service.

Paying in cheques (checks) is the one thing that the Americans have sorted. Chase have had an iPhone app for a few years that lets you photograph the cheque, it OCRs it, and then despots it for you automagically. When we moved back here I used to pay in various refunds with my phone without needing a Chase Branch anywhere nearby. It was great. There must be some archaic reason here why you need to physically present the thing to someone to pay it in.

I got fed up posting cheques to my on-line bank (when the cost of stamps went to a silly level), so I opened a branch with Barclays. I can now put cheques in their letter box. I still haven’t been in the branch in the last 20 years, but I use the bank regularly.

I gave up on my childhood Abbey National account when I went to university and found Bank of Scotland much more convenient.

I am surprised that people still use cheques to be honest - I haven’t written one in over 15 years and when I got one recently it took me over a month to get to the bank. I sort of forgot what you are supposed to do with them.

Letter received from Santander:

I want to let you know that on 28 June 2018 we’ll be closing our Santander branch at 16 London Road, Forest Hill SE23 3JA.

We constantly review our branch network to take into account changing customer behaviours and the need to operate an efficient and cost effective branch network. Our review has shown that 70% of customers who use our Forest Hill branch, either at the counter or the cash machines, are also using alternative Santander branches. In addition, 54% of customers also manage their money through Online, Mobile or Telephone Banking.

The closest alternative branches to 16 London Road are:
162 Rushey Green, Catford SE6 4JT
212-214 High Street, Beckenham BR3 1EN

As well as using any of our branches, customers can bank with us through Online, Mobile or Telephone Banking. For those customers not currently using these services, we can help set this up for them, giving them flexibility in how and when they manage their money. Customers using Online Banking can also set up free alerts about their account balances, deposits and payments.

In addition, all Santander current account holders can use the Post Office for cash and cheque deposits, withdrawals and to check their account balance.

We understand that this may disappoint and inconvenience some of our customers. So, we would welcome any views you have on how we can help make sure the financial needs of our customers in the community continue to be served when this branch closes.

No mention of the Sydenham branch as an alternative, so it looks like both
FH and Sydenham will lose their branches in the new year.

Yes Sydenham is being closed too

What about Lewisham? I find myself now scrutinising every Santander window I come across!

They have posted impact assesments for Forest Hill and Sydenham

Not sure exactly how much help they are really…

At least someone has posted impact statements recently.

Yes thank you @starman but can we keep that over in politicos please.

Spoil sport.

Very subtle @starman

Santander are closing all their branches in the Lewisham West and Penge constituency in a undemocratic #LewPexit.
At least we will have borderless access to Lewisham East and Beckenham.

Ahem… ‘Politicos’ is that way

A shame Santander don’t show figures for whether customers are choosing to bank at FH or Sydenham when visiting another branch away from their home branch?

That would be too silly as it wouldn’t justify closing either.

Does anyone know what will replace the bank?

Probably an Estate Agents ha ha!

God help it being anything that in any way represents mainstream or a chain!! lol
Whoever goes in there, lets hope it is swift so its not just left festering.

Nando’s

lol even I am not going to suggest that one!