The Santander branch is to close in St Andrews as part of a nationwide reshuffle.
The bank has announced that 140 branches will be closed, citing changes to how people choose to bank.
North East Fife MP Stephen Gethins has sent a letter to Santander requesting a meeting and calling for clarification on potential job losses.
The branch on Market Street will close on May 2, while the branch in Kirkcaldy will close on June 13. According to Santander over the past three years the number of transactions carried out at branches has fallen by 23%, whereas the amount carried out online has grown by 99% over the same period. As a result of this, Head of Retail and Business Banking Susan Allen said “we have had to take some very difficult decisions over our less visited branches, and those where we have other branches in close proximity”.
In a letter to Mr Gethins MP, Head of Branch Interactions Adam Bishop said “we have found 92% of our customers who use this[St Andrews] branch, either at the counter or the cash machines, are also using additional ways to complete their banking – 27% at another Santander branch and 66% through Online, Mobile or Telephone Banking”.
Santander said that over 1,270 staff will be affected, with the expectation being that at least one third of those will be redeployed to other branches. In addition, 100 branches will be refurbished over the next two years as part of a £55 million investment. Yet under current plans, the closest branch for someone in St Andrew would either be in Dundee or Dunfermline.
Mr Gethins MP said: “Across North East Fife we have seen so many banks, post offices and library closures and communities and local businesses have suffered. St Andrews is a thriving town boosted by student numbers and visitors and it is very disappointing that Santander has decided to close its branch here along with many others in Scotland. I have asked to meet with them as soon as possible and would like more details particularly about job losses. The loss of any additional banking provision in North East Fife is very worrying and I am grateful to my Westminster colleague David Linden MP for putting down an Urgent Question on this in Parliament.”