Three major high street banks, namely Lloyds Bank, Halifax, and Bank of Scotland, all part of Lloyds Banking Group, have announced plans to shut down 71 branches in the upcoming year due to a shift towards online banking. The closures were initially disclosed earlier this year.
The breakdown of closures includes 40 Lloyds branches, 14 Halifax locations, and 17 Bank of Scotland sites. Affected customers have alternative options available to them.
Customers of Lloyds, Halifax, and Bank of Scotland can utilize branches across any of the three banks for their daily banking needs. Additionally, they can explore the availability of “banking hubs” in their vicinity, where a bank operates within a shared public space on the high street.
A spokesperson from Lloyds Banking Group highlighted the changing banking preferences, with over 21 million customers opting for apps to manage their finances. The group aims to offer a variety of digital solutions alongside traditional banking services, enabling customers to access their accounts at Lloyds, Halifax, or Bank of Scotland branches, Post Offices, or banking hubs, and deposit cash at over 30,000 PayPoint locations.