Trustee Savings Bank to close in Abingdon

Trustee Savings Bank to close in Abingdon
The TSB has announced that it will be closing 82 branches in 2020,
Trustee Savings Bank to close in Abingdon
and the TSB at 1 Stert Street will close in April 2020.

A spokesman said this was ‘in response to changing customer behaviour’.

This is not the first time a Trustee Savings Bank has closed in Abingdon. Trustee Savings Banks began as places for smaller savers. A local Savings Bank (with trustees) was started in Abingdon in 1820 and closed in 1892. It too was in Stert Street. An article in the Reading Mercury of 1902 reported that many local Trustee Savings Banks had closed and their deposits been transferred to the Post Office Savings Bank, including the one in Abingdon.

The current Abingdon Trustee Saving Bank opened at 1 Stert Street in the 1940s. Trustee Savings Banks amalgamated between 1970 and 1985 to form one Trustee Savings Bank that got renamed TSB. The TSB went on to merge with Lloyds and so for some years Abingdon had two Lloyds TSBs.

After the 2008 banking collapse, and government rescue, the TSB was forcibly separated from Lloyds. It did not get the best of separations, and now the TSB is closing branches.

1 thought on “Trustee Savings Bank to close in Abingdon

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.