TSB have announced today that their branch in Cowdenbeath High Street will close on April 20 next year.

It's one of 73 Scottish branches, Rosyth will also go, that will be shut as part of a three-year strategy with around 300 jobs affected.

It also means that the only bank left in Cowdenbeath will be the Bank of Scotland, the nearest TSB will be in Dunfermline.

A statement said: "We’ve looked carefully at our Cowdenbeath branch at 92 High Street and how it is used, and we’ve taken the decision to close it.

"The way customers bank with us is rapidly evolving with the vast majority of everyday transactions now being done digitally."

TSB said the changes have been driven by a "significant change" in customer behaviour, including a reduction in the numbers using branches and a significant acceleration in digital adoption.

Branches earmarked for closure have been selected to ensure 94 per cent of customers remain within 20 minutes travel time of a branch.

The Cowdenbeath, Dunfermline and Rosyth branches escaped the axe in December when it was announced that 82 were to go across the UK, including 17 in Scotland.

The bank previously announced in 2017 that branches in Cardenden and Lochgelly were to close.

The closure in Cowdenbeath means there will be just five TSB branches left in Fife.

Robin Bulloch, customer banking director at TSB, said: “These decisions are the most difficult we take, but we must always be guided by our customers – and we are clearly witnessing a substantial shift towards digital banking.

“We operate a more extensive branch network than most other banks in Scotland, including some much larger than TSB, and we need to reduce its size to reflect the changing needs of our customers and a fast-evolving operational environment.

“TSB remains committed to offering high quality banking services in branches across Scotland. We are also introducing mobile advisers to ensure we look after vulnerable customers and those in rural locations.

“We are working to ensure the transition towards digital – which is being seen right across the economy – is handled sensitively and pragmatically for our colleagues and customers.”

Brian Sloan, Chief Executive of Age Scotland: “We’re appalled by this latest round of closures, which will undoubtedly hit older and vulnerable customers hardest. The disappearance of almost half TSB’s Scottish branches will inevitably lead to banking deserts and make it harder for customers to manage their money.

“Those who rely on branches most tend to be older, disadvantaged, or on low incomes, and may not find it easy to travel to the next town to do their banking. 

“The relentless push towards online or telephone banking may be convenient for many, but it doesn’t suit everyone. Almost half a million people over 60 don’t use the internet, with the highest numbers in the most deprived areas. By turning its back on them, TSB clearly seems to be putting its profits before its customers. 

“Last year, TSB assured us that the reduction in opening hours at many Scottish branches would not be a prelude to closures. Unfortunately, that now looks like it is the case. 

“It’s understandable that footfall fell during the pandemic, as customers avoided visiting their local bank unless absolutely necessary. But that doesn’t mean that the longer-term demand isn’t there. Now it looks like many branches that TSB temporarily closed will never reopen their doors.

“We are urging banks to consider the needs of all their customers and not leave older people out in the cold. Instead of closing branches, they could look at creative solutions such as shared branches, with several banks sharing the cost of staff and premises.” 

Over the next two years, TSB said it will continue to invest in its 62 remaining Scottish branches to improve the customer experience.

Across the UK, the bank is cutting 969 jobs and creating 120 new operational roles, with a net loss of 849 jobs.

It said that, "where possible, role reductions will come through voluntary redundancy and TSB is implementing a comprehensive training programme to support those leaving the business find future roles".

It has consulted with the Accord and Unite unions.