Bank Ending Cash Services as Habits Change

Santander’s multi-million pound refurbishment of its Isle of Man base will see the end of cash services at the bank.

It will continue to offer ATM services, but counter services for cash deposits and withdrawals won’t return.

The branch itself, on Prospect Hill in Douglas, will close on July 22 with the bank and its offices temporarily moving to a new home, before reopening in March next year.

James Geldart, Managing Director of Santander International’s Isle of Man Branch, explained: ‘For some time now we have wanted to provide a more modern banking environment for our valued customers, and I’m delighted to confirm that work will be starting this summer. When the work is completed we will be able to offer customers a new banking hall and exciting new office spaces for our staff to work in.

‘We are aware of the value to our customers of being able to talk to a friendly and familiar voice so, during the refurbishment, both our Telephone and Online Banking services will remain available and customers will be able to contact our dedicated Customer Services team when they require assistance or help with everyday account transactions. They will also still be able to write, phone or email us as normal.’

Cashless

As part of the redesign, Santander International said it has also taken a ‘comprehensive look at how customers have been using its local branch services and found some significant changes in the way people manage their money’.

Mr Geldart said: ‘There is clearly an evolution in banking and, in recent years, many more of our customers have found it convenient to carry out their day-to-day banking using Online or Telephone Banking. Our review identified that fewer than one per cent of our customers regularly use the branch counter for cash deposits or withdrawals and this finding will be reflected as part of our investment in modernising the Douglas branch.

‘When we re-open in 2023, we will resume our branch services with cheque deposits and other payment services, as well as general account services and appointments and mortgage appointments. Counter services for cash deposits and withdrawals won’t return but we will still offer ATM cash machine services.

‘We’d like to thank our customers in advance for their understanding whilst our building works take place and I can assure that customers we remain here to support them and are committed to a large-scale investment plan on the island which includes premises, new jobs and a diversified product range. We have written to our local customers with more detail about the forthcoming changes to our branch services and anyone with questions can also speak to our staff by popping into the branch before it closes on July 22, or by phoning or emailing us.’