Dawlish Discussion

so says a letter I received today.

Now, as the only reason I have money with that branch is because it is the nearest building society (Britannia as was) to Dawlish (the Halifax outlet having closed down in Dawlish back in 2009) and so was by far the most convenient seeing as I didn't have to travel to Exeter or Newton Abbot to pay money in/take money out,  I see no reason for me to keep my money with them anymore. So I'll be looking to transfer my dosh elsewhere to another building society. I'll have a lookee around to see what interest rates the others are offering.   

http://www.theguardian.com/business/2014/aug/22/co-op-bank-losses-75m

Wonder how many other account holders will do the same? That won't help the Co-op group will it?     

Try First Direct -  excellent telephone service (no automation), owned by HSBC so you can use their branches,  and money can be paid in at the Post Office.   I have other bank accounts with Barclays and Santander but FD has always been the best. 

I shall be another one voting with my feet. Co-op used to be a trustworthy concern but after the debacle of the 'Crystal Methodist', I don't feel like entrusting any of my hard-earned to them any more.

Just been talking to someone who works for a bank (not co-op) and who was working in his bank's Teignmouth branch during the week that the above news broke.

In that first week alone over £1m was transferred by Britannia/Co-op bank customers to his bank's Teignmouth branch. Over £1m!

Since which time others have transferred money out of the Co-op into other banks. Not only locally but also across the rest of the country where the co-op bank has decided to close branches.

The mind boggles as to how much money the co-op has lost in this way to other banks.

Future doesn't look too good for the co-op bank, does it? 

Ive read that Dawlish Lloyds will be one of Lloyds Branches to close, so if true that means Dawlishwillbe without a Bank. Over to Teignmouth then

Yep - the guy I was talking with told me that his bank is just waiting to see what branches Lloyds close and anticipate that their bank will consequently benefit, thank you very much.

What banks are there presently in Teignmouth by the way? I know the co-op is closing and that there is a Barclays. What others?

HSBC and NatWest (for now, anyway)

Best interest rates are online accounts ...high street banks or building societies have never been better since internet..has to be why they are closing.. 

Post Office online at 1.4% with no restrictions.

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

Lloyds staff seem to be indicating Dawlish will close.  So with Nat West closing too, that means no bank in Dawlish at all?  Final nail in Dawlish Town Centre's coffin?

Lloyds did say on the bbc radio 4 today programme that they would honour an agreement not to close the last bank in a town. I would assume that that would include Dawlish