Harringay, Haringey - So Good they Spelt it Twice!
Santander Green Lanes is closing..
Just got a letter in the post telling me that our local Santander branch is closing at the end of June.
For anyone who banks in person or runs a business, this coupled with the impending closure Post Office is going to be a real blow 
Replies to This Discussion
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Permalink Reply by Steve on
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Thanks Gordon
Mine is a slightly different letter and does not have the 'offending' paragraph.
Much appreciated and yes a real irony,
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Permalink Reply by Paul Harding on
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Perhaps the ATM can be altered to dispense a piping hot doner kebab.
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Permalink Reply by John McMullan on
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"I think Banks and by implication the Post Office are facing rising costs and a lot of their business is now conducted online. They are closing scaling back their high street operations. "
So you think their costs are going up and that's the only reason they're scaling back? They were privatised and since then it's been nothing but scale back. If I miss a package I have to go to Kentish Town to get it now.
The banks are in a bind because of their business model. They create money by magicing it into your account with a few key presses and then charge you interest on it (you see it as a loan). The interest is very, very low now so yes, pressure.
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Royal Mail (deliveries) - privatised.
Post Office Counters - not. Yet. But running a similar business model.
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Once it moves there will be no advantage to me continuing to have a Santander current account and I will be moving my account to a bank that offers greater rewards. \\\have been thinking of doing so for a while, but now I have no reason not to.
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The bum that lives in the doorway will be ecstatic. Now he won't have to make and clear out his bed before 9 am.
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Such sympathy. It's almost like you don't ever think "there but for the grace of god go I".
Maybe you should.
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Permalink Reply by kotkas on
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What rewards did the branch offer? I haven't set foot in a bank branch in years. Bank branches will go the way of Blockbuster, with a few sprinkled around high streets functioning as a form of showroom. That's it and frankly good riddance - if the costs they cut end up in their recapitalisation and are eventually being passed on to consumers (which they should) it's a change for the better.
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Permalink Reply by John D on
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I pay off my credit card with a cheque. If people can get nostalgic about gasholders, I have the right to use paper
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Permalink Reply by Michael Anderson on
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There are are still an awful lot of people who don't use (or can't use) online banking. Next time you're passing NatWest in Wood Green pop in and look at the queues. By the way, lots of bank branches have closed over the last 5 or so years and I personally haven't seen a penny of their "recapitalisation" come my way.
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I agree - but that is a dwindling proportion of individuals and frankly what you see in branches is a very small sample of people. No doubt there are vulnerable customers out there in less connected areas that need branches more than Londoners do. Moreover, there are alternative formats banks can follow - i.e. Embedded in retail stores post offices etc. Insofar as benefits flowing back to consumers - recapitalisation has nothing to do with this - banks are required by regulators to retain more of their profits in order to boost their ability to withstand financial crises. Once these ratios are satisfied the cost cutting will probably abate and with some much needed pressure from the FCA banks will start offering more competitive terms to clients. Can't guarantee it but the regulatory mood music is very much in favour of competition and improved customer outcomes.
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