By Richard Guttridge
Millions of Santander and TSB customers are being updated about potential changes following a deal between the two banks. Spanish bank Santander is set to take over TSB in a 拢2.65 billion deal. There is now speculation some TSB branches could close and the bank’s name disappear from the high street altogether. READ MORE: July 拢200 cost of living payments to start entering bank accounts Join our Free Money Saving WhatsApp community for the latest updates TSB customers could also be moved over to Santander, which would become the third biggest UK bank. Santander said it “intends to integrate TSB in the Santander UK group”. Commenting on what the takeover might mean for UK customers, Mike Regnier, CEO of Santander UK, said: 鈥淭his is an excellent deal for customers combining two strong and complementary banks, creating one of the most substantial banks in the UK and materially enhancing the competitiveness of the industry. 鈥淎t Santander UK we have momentum in our strategy to become the best bank for customers in the UK by investing in technology and service and improving our processes and efficiency. 鈥淭his deal accelerates our transformation allowing us to enhance our customer proposition and invest more in innovative products and our digital offering, supported by the human touch service so many appreciate, not least in our new branch formats and enhancements across the country.” Get our best money saving tips and hacks by signing up to our newsletter TSB – originally known as Trustee Savings Bank – has served the nation鈥檚 banking needs for well over 200 years. Analysis identified 70 locations where both banks currently compete for customers with Bolton the closest branches. The deal depends on approval from Sabadell鈥檚 shareholders and the UK regulator, but if it does go ahead, Santander says it 鈥渋ntends to integrate TSB in the Santander group鈥. That probably means the remaining TSB branches rebranded as Santander. Santander has not yet revealed if there will be any new closures. However, TSB branches that are most at risk are likely to be in towns with established Santander branches.