Just Heard Today That My Bank Is Closing

[hereIam]

I've been dreading this. The nearest branch to me now is nine miles away. What's worrying me the most is how will this affect my direct debit payments and the paying in of my pensions. I assume this will just carry on as normal ? Has anybody else had their bank close on them and how did you deal with it ? I don't do online banking.

Thank you.

[bednobs]

it will carry on

[bednobs]

how often do you go into branch and what ort of transactions do you do in branch?

[fiction-factory]

I have not been into my branch to make a transaction since I opened the account a few years ago, and the only time I've been in my main bank in the last 5 years was to arrange a huge CHAPS payment c

[bednobs]

ps you ca do basic banking at the post office https://www.moneysavingexpert.com/team-blog/2018/06/banking-at-the-post-office/

[Mamyalynne]

Nothing really changes, except here is no physical branch nearby to visit - the only difference it made to me is occasionally having to put a cheque in the post if I wanted to pay it in.

[Bobbisox1]

Hi HereIam, your DDs will remain as before, same as your pensions, this just means you will have to do your transactions ‘online’ which is quite safe as all banks are thorough with their security , Ive banked online for over 20 yrs now and never had a problem , my nearest branch is in Newcastle which is around 6 miles away but I can’t remember the last time I went in to be honest

[bhg481]

Alternatively, switching banks is easy nowadays (all your Direct Debits etc are moved to the new bank for you) so, if there is a different bank near to you, just switch. You might even get some money from the new bank for switching to them.

[ToraToraTora]

nothing will change on the transaction side, just get your pension paid into the bank directly then you can withdraw from any cash machine or post office. Consider dipping your foot into the world of internet banking, you may surprise yourself, you must have some idea, you use this site.

[hereIam]

Thank you all so much for your prompt answers. So to cap, my DD's will still be taken out and my pensions still paid in as usual ?

bednobs, I don't go into the branch often, had to today to pay a cheque in, but the staff didn't seem to know much about what was going on. Thank you for the info. on Post Office, didn't know that.

Don't really want to bank online Bobbs.

Did your bank close Mamya ?

[hereIam]

I'm afraid I've never used a cash machine TTT ! Things are going to have to change I guess ...

[Old_Geezer]

It's your branch not your bank that is closed due to uncaring bank management. Your account carries on as normal, you just have issues getting to a branch now as they try to force you to serve yourself over the web rather than they provide any service.

[Old_Geezer]

The bank doesn't really care what you want, only what they want.

[Mamyalynne]

Yes, y bank closed and the nearest is in a town centre pedestrianised zone, hence no parking.

They changed the address on the top of my cheques and I post them to that address now - all OK.

[Bobbisox1]

Then use you local PO to withdraw your money HereIam but if I’m not wrong ,they are cards similar to using a ATM

[ToraToraTora]

well baby steps then, get used to using a cash machine you should already have a debit card and it probably also does touch also. But find a quiet cash machine where you'll have time then take time and follow the instructions. Obtain a PIN first and then set it to something you will remember, you can do that at most cash machines, do not write it down especially on the card.

[Tuvok]

If you bank a cheque with the Post Office you may need envelopes from your bank before the Post Office will accept your cheque.

I asked at my Santander bank for envelopes - they didn't have any in stock but they ordered them for me (free) - come in batches of 30! So I gave them to my local Post Office - more use to them than me.

[hereIam]

Thank you so much again all of you. TTT I have a debit card, will the pin number I already have work on a cash machine ?

OG, totally agree with you. I knew it was only a matter of time before it closed. No banks left at all soon I reckon.

[Mamyalynne]

PIN number works in ATM , yes.

[ToraToraTora]

yes the current PIN will work, go and try and get some cash out, just follow the instructions on the screen and press the buttons that alight with the choices it offers, it's very straight forward.

[hereIam]

Well, I feel a lot better now after all your responses, thank you, you lovely lot xx