Banks are closing their branch offices – there was one in Welshpool recently reported in the CT.

The reasons cited are that customers bank online or use ATMs to provide the services they require.

These are excuses not reasons.

The real problem is that branch offices are too expensive to maintain. But customers still want to discuss their car loan, their mortgage, business loan, etc. with a real person, not a computer screen.

OTHER NEWS

A number of years ago banks in the US had the same problem: Maintaining many branch offices with the attendant real estate costs was just not economic.

Then the banks came up with an innovative solution – set up full service bank branches in local supermarkets.

The results were astounding: Banks relearned that customers want to discuss their banking needs with a real person, which lead to increased retail business without the real estate overhead.

Supermarkets quickly found space by rearranging the store and enjoyed the increased foot-fall as well as the rental income.

Would it work in the UK? Probably, with a little creative thinking.
Roy McGuffin
Pont Robert


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