Peterborough bank has the competition all figured out

Bosses at a leading city centre bank say they are braced to take on new challenges in Peterborough.

Tuesday, 28th March 2017, 1:41 pm
Updated Tuesday, 9th May 2017, 6:33 pm
Matt Cross, cluster manager, Lawrence Hurt, bank manager and Michelle Jackson, area director at the TSB branch at Long Causeway EMN-170317-090725009

Managers at the TSB, in Long Causeway, insist they are undaunted by the imminent arrival of the Metro Bank next door and welcome the creation of more competition.

And the TSB, which has been given a new lease of life following its separation from Lloyds, is also determined to attract former Norwich & Peterborough customers.

The moves comes after the N&P owner, the Yorkshire Building Society, announced in January that it was closing N&P current accounts to existing customers and withdrawing the N&P brand from the high street over the next year.

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The TSB’s Peterborough area director Michelle Johnson said: “We welcome more competition and more choice for customers.

“We will focus on ourselves and offering quality products and services.

“We are also doing a lot to support N&P customers who now have to find a new home for their current account.

As N&P is not part of the switching service CASS, the switches need to be done manually.

Craig Bundell, director of current accounts and business banking, said: “Following the launch of the cash back offer on our Classic Plus current account, the number of manual switch requests we have received from N&P customers has increased by about 300 per cent. Unlike other banks, we have provided bespoke training to more of our partners and increased the number of staff working on it to help these customers as efficiently as possible.”

“On average N&P customers are seen within two days of visiting a N&P-based TSB branch. We are also working in close partnership with the teams at N&P, and have implemented a bespoke process to help customers switch to TSB.

“These new customers are able to enjoy the full benefits of Classic Plus – earning up to £13.70 a month in cashback and credit interest.”

Peterborough TSB has 33,700 private customers and 1,200 business customers and 29 staff across its branches in the city centre, Millfield and Ramsey.

The bank also prides itself on being closely involved with local charities.