Three leading high street banks are planning to shut down 71 branches in the upcoming year due to the increasing trend of online banking. Lloyds Bank, Halifax, and Bank of Scotland, all part of Lloyds Banking Group, cited the surge in online banking usage as the reason for these closures, which were initially announced earlier this year.
The closure list comprises 40 Lloyds branches, 14 Halifax locations, and 17 Bank of Scotland sites. Customers affected by these closures have alternative options available to them.
Affected customers of Lloyds, Halifax, and Bank of Scotland can utilize branches across any of these three banks for their everyday banking needs. Additionally, they can explore the possibility of a “banking hub” nearby, where a bank operates within a shared public space on the high street.
A representative from Lloyds Banking Group emphasized the shift in banking preferences, with over 21 million customers opting for apps to manage their finances. The group continues to offer various banking options, blending digital convenience with in-person services. Customers can conduct their banking at any Lloyds, Halifax, or Bank of Scotland branch, as well as at the Post Office or banking hubs, with the added convenience of cash deposits at over 30,000 PayPoint locations.
This move reflects the changing landscape of banking preferences and the increasing digitalization of financial services.
