Fife town hit by news of another bank closure – days before one branch shuts for good

The Bank Of Scotland will close its High Street base next May, leaving customers with a journey to Glenrothes if they want to see a member of staff face to face. The announcement came just days before the TSB shuts its doors for the final time on September 18. Leven High Street has already lost its Royal Bank of Scotland and Clydesdale Bank

The departure of the Bank of Scotland was described as disappointing by MP Wendy Chamberlain who said local people would feel the impact just as the town started to reap benefits from the re-opening of the Levenmouth Rail Link.

The bank said most customers were using its app or online banking rather than going into the branch, and it said a community banker will be available after the doors have closed. Despite this, many local businesses and elderly customers rely on physical banking and access to cash.

Ms Chamberlain, MP for North-East Fife, said: “I’m disappointed to see the closure of the Bank of Scotland branch on Leven High Street. The closure comes just as Leven is beginning to feel the benefits of increased visitors as a result of the Levenmouth Rail Station, which opened just a few months ago.

“Local businesses and residents who rely on accessing physical cash will feel the impact of yet another closure, with the TSB branch closing earlier in May this year. I am pleased to hear that a community banker will be available to support customers after the branch closes, especially those who are vulnerable or unfamiliar with online banking.

“Despite this, it is critical to ensure assessments around alternative access to cash take place before the closure, particularly given that the Bank of Scotland branch in Cupar closed with no other deposit facility in place.”

The bank will also close its cash machine on the High Street from May 7 next year. It said customers can use the Post Office on the High Street for most banking transactions.

Meanwhile, September 18 marks the closure of the TSB branch in the town - it is one of nine branches being scrapped by the bank. Its customers who want to use a branch will also face a seven-mile journey to Glenrothes.

The bank said there had been “a clear shift to digital banking,” and that 96% of all TSB transactions now take place outside of a branch. “In a statement, it added: “We have seen a 43 per cent fall in the number of customer transactions across our branch network over the last four years.”