High street banks like NatWest and Lloyds are planning to shut down a total of 162 branches in the coming months. NatWest confirmed the closure of 52 of its physical banks, while Halifax and Lloyds will be closing 42 and 40 sites, respectively. Additionally, Santander and Bank of Scotland have 19 and nine branches earmarked for closure, respectively.
The rise of online banking has led to the closure of numerous high street bank branches. Concerns have been raised by charities about the impact this may have on vulnerable individuals who rely on these physical locations for essential banking services.
According to data from Which?, banks and building societies have collectively closed 6,522 branches since January 2015, averaging 53 closures each month. In case your local branch is shutting down, basic cash and counter services can still be accessed at your nearest Post Office, including cash deposits, withdrawals, and balance inquiries.
Several banks now operate pop-up branches or vans, but it is advisable to check online for the schedule of visits to your area.