The closure of 48 of Birmingham Midshire Building Societyís 67 branches means that home loan applications are now dealt with online or over the phone.
As many as 80,000 regular users of the branches will be affected, but customers will be able to use Halifax branches and products for the first time since Halifax acquired the building society in 1999.
Since the takeover Birmingham Midshires has enjoyed success as a lending specialist, and most of its business is now done directly online, over the phone or through brokers.
Speaking to the Daily Telegraph, HBOS head of communications, Shane OíReardon praised the move to deal directly with customers.
ìGoing direct has been a successÖMidshires has 700,000 customers and three quarters do all their business with us directly or through brokers,” he said.
As more and more people take advantage of the benefits of internet banking and web based deals, security has become an ever present concern for banks which do an increasing amount of direct trading.
Ing Direct, the internet based savings bank, recently signed a deal with Experian, the global information solutions company, for a sophisticated system to root out money laundering and tighten their internet security.
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