Bank Closures

Bank Closures Case Study

It is reported that since 2015, at least 2,961 bank closures have occurred. These closures have happened throughout the entirety of the UK, with the North West seeing the biggest reduction in branches, having closed an estimated 386 since 2015. According to Which.co.uk, due to the rise in the use of technology through online banking services the footfall through branches has decreased, which has resulted in a reduced need for high-street branches. Due to the sensitive nature of these works, projects such as branch closures must be dealt with within the strictest confidence for our customers. Over the past 3 years, Associated Security has been actively involved in several bank closure projects for our customers.

Over the last 24 months, for one high street banking customer, we have completed and assisted in around 677 bank closure projects. The programmes for completing the closure works has been fast-paced due to the customer’s requirement to have the works completed within five days of the bank closing. The highest number of bank closures completed in one week during the course of this programme was 48 spread across the UK, with teams working around the clock, including weekends and bank holidays to provide exceptional service and lead times for the banking clients.

Our bank closure projects are coordinated by our in-house Project Management teams, the high volume of works are carried out in four key stages, which are undertaken to ensure that our banking clients receive a cost-effective solution whilst delivering a fast-paced programme of works.

Initially, our expert surveyors carry out a site survey at the branch in question, this is done in order to determine which items would need to be removed from the branch, any items that require collaboration with other contractors and any health and safety issues that need to be considered before works are undertaken.

Once our surveyors have completed their site-survey and determined the security solutions that would require removal, we are then able to provide detailed quotes for our clients. These quotes list each item we would be removed, the removal times of items due to branch locations and any work that would be necessary to be completed by external contractors.

After an order has been received, the works can then all be booked in according to the programme, allowing us to work around other contractors. There are only five days available to complete the strip out of items from the day of the bank closure, which is why many of the teams complete this work during weekends and bank holidays to ensure time scales are met.

Upon the completion of the removal of items from branches, all assets are entered onto the customer’s assets register where we can then advise if the units can be reconditioned and reinstalled into the branches existing estates. So far, we have been able to do this for over 72 branches, saving the client in excess of £70,000 in new equipment.

One of the core targets of this project was for 0% of waste from any bank closures to go to landfill which we have managed to uphold thus far, benefitting both the client in reducing necessary costs and benefitting environmental efforts we aim to achieve.

If you have any requirements for safe removals, decommissioning or relocations, or if you’d like to hear more about our bank closures case study and the work we’ve done to help, please contact us to discuss your requirements.