In recent years, the bank has seen a significant decrease in branch use, with the average number of transactions per branch falling since January 2019 and no prospect of branch transactions returning to pre-Covid levels.

Two years ago, TSB set out its intention to reduce its branch network and invest in digital services, as part of its strategy to meet the future needs of customers, but the Covid-19 pandemic has further accelerated the shift away from branch services, with customers shopping and doing more online.

Over 90% of customer transactions are now carried out digitally and video banking accounts for over 90% of mortgage appointments.

The branches that will close carry out around a third (32%) fewer transactions than the TSB national average. There is also a Post Office or free to use ATM within a mile of each closing branch.

Of the 70 closures, nine branches in Scotland are affected. The branches closing are at Strathmartine Road, Dundee, Bridge Street, Ellon, East High Street, Forfar, High Street, Forres, High Street, Fort William, Alexandra Street, Kirkintilloch, Bannatyne Street, Lanark, Castle Street, Stranraer, and Traill Street, Thurso.

Robin Bulloch, TSB’s chief customer officer, said: “Closing branches is an incredibly difficult decision to take, but we have to respond to the changes in the way people bank and provide the right mix of services for all our customers now and into the future.

“These changes allow us to maintain an extensive branch presence across the country. They are accompanied by a significant investment programme to upgrade branches to better suit customer needs. And, where it takes longer to get to the nearest branch, we will introduce more ‘pop-up’ services in communities.”

The bank has opened ‘pop-up’ services in 41 communities across the country where it takes longer to get to the nearest branch. A further ten are planned following this announcement.

At ‘pop-ups’, TSB advisors provide face-to-face support, including making payments, providing product information and helping customers get started with digital banking.

As with previous closures, additional support will be provided to vulnerable customers, including one-to-one advice on their banking needs, such as digital skills training and alternative ways to bank. They will also be contacted personally in advance of a branch closure to make them aware of the changes.

TSB added that all staff impacted by these changes will have the opportunity to move to an alternative role in TSB.