High street banks, such as NatWest and Lloyds, have announced plans to close a total of 162 branches in the coming months. NatWest will be closing 52 physical banks, while Halifax and Lloyds will shut down 42 and 40 sites, respectively. Santander is set to close 19 branches, and Bank of Scotland will be closing nine.
The closures are part of a trend where many high street banks are shutting down branches due to the increasing popularity of online banking. Concerns have been raised by charities about the impact on vulnerable individuals who may lose access to essential banking services.
Since January 2015, banks and building societies have closed 6,522 branches, averaging 53 closures every month, according to data from Which?
In case your local branch is closing, you can still perform basic cash or counter services at your nearest Post Office, including cash deposits, cheque deposits, withdrawals, and balance inquiries. Some banks also operate pop-up branches or vans, so it’s advisable to check online for their schedules in your area.