In the last few days, Lloyds Banking Group has confirmed 45 branches will close between March and November 2024.
This is split between 19 Lloyds Bank, 22 Halifax and four Bank of Scotland branches.
Lloyds said over four in five customers now regularly use online banking, with branch visits in those 45 locations falling by an average of 53 per cent (and up to 71 per cent) in the last five years.
A spokesperson, added: “The way customers choose to bank with us has changed rapidly in recent years, and we now offer a wide range of options for their everyday banking needs. This includes our mobile app, online and over the phone. Customers can also bank with us through the Post Office, in a banking hub or by speaking to a community banker. All colleagues will be offered other roles across our business.”
Meanwhile, Barclays will shutter 18 high street locations in March 2024, with one branch (55 Market Place, Richmond) set to close in December.
Barclays which only confirmed 16 bank branch closures a couple of weeks ago, said it’s also down to the shift towards digital banking – either online or via the app – with fewer people interacting in branch.
A Barclays spokesperson, said: “As visits to branches continue to fall, we need to adapt to provide the best service for all our customers. Where there is no longer enough demand to support a branch, we maintain an in-person presence though our Barclays Local network, live in over 300 locations, based in libraries, town halls, mobile vans and our banking pods. We also support access to cash with our cashback without purchase service, 24-hour deposit-taking ATMs and by working alongside the Post Office and Cash Access UK.”
All-in-all in 2023, 641 branched have been flagged for closure, according to data supplied to LINK, the UK’s cash access and ATM network. While the majority of bank branches have already closed in the past year, 189 will disappear in 2024.
