Three major banks are planning to shut down an additional ten bank branches this week, impacting customers. Halifax is set to close five branches, NatWest will shut four, and Lloyds will close one location. The decision comes as high street banks observe declining foot traffic in branches, with more customers opting for online banking services.
Despite the shift towards digital banking, concerns have been raised by charities about the potential exclusion of vulnerable individuals from essential banking services. Data from Which? reveals that a total of 6,561 branches have been closed by banks and building societies since January 2015, averaging 53 closures per month.
According to Which?, 432 branch closures are scheduled for 2025, with NatWest planning 105 closures, Halifax 101, Santander 95, Lloyds 93, Bank of Scotland 24, TSB 8, and Barclays 6.
In 2026, a further 71 bank branches are slated for closure, including 40 from Lloyds, 17 from Bank of Scotland, and 14 from Halifax. For customers affected by branch closures, basic cash and counter services can be accessed at the nearest Post Office. Some banks now offer pop-up branches or mobile vans, with schedules available online for customer convenience.
A NatWest spokesperson emphasized the increasing preference for digital services, citing that over 80% of active current account holders utilize digital platforms. Similarly, a representative from Lloyds Banking Group highlighted the broad range of digital options available to customers, including apps, telephone banking, community bankers, and access to multiple branches under their umbrella.
As banking services continue to evolve towards digital platforms, the industry aims to meet changing customer needs and expectations by enhancing digital capabilities and personalized services.