Three major banks are planning to close an additional ten bank branches this week, which could significantly impact customers. Halifax is set to shut down five branches, while NatWest will close four, and Lloyds will be closing one location. The closure of branches is attributed to the declining foot traffic as more people opt for online banking services over traditional in-person transactions.
Despite the convenience of online banking, concerns have been raised by charities regarding the potential exclusion of vulnerable individuals from essential banking services. According to data from Which?, a total of 6,561 branches have been closed by banks and building societies since January 2015, averaging at 53 closures per month.
Which? has reported that 432 more closures are scheduled for 2025, including 105 from NatWest, 101 from Halifax, 95 from Santander, 93 from Lloyds, 24 from Bank of Scotland, eight from TSB, and six from Barclays. Looking ahead to 2026, a total of 71 bank branches are slated for closure, with Lloyds leading with 40 closures, followed by 17 from Bank of Scotland and 14 from Halifax.
For customers affected by branch closures, basic cash and counter services can still be accessed at the nearest Post Office. Some banks are also introducing pop-up branches or vans, which customers can track online to find out when they will be visiting their area.
A spokesperson from NatWest highlighted that the shift towards digital banking has been driven by customer preferences for speed and convenience in daily transactions, while still valuing personalized interaction for more complex financial decisions. Similarly, Lloyds Banking Group emphasized the availability of mobile apps and multiple banking options, including telephone banking, community bankers, and access to various branch networks.
As the banking landscape continues to evolve towards digital services, banks are committed to meeting changing customer needs and expectations by investing in enhancing self-service capabilities and personalized offerings.
