Over 100 bank branches are scheduled for closure in 2026 as the trend of moving away from physical locations on the high street continues.
This year, closure dates have been confirmed for 73 branches of major banks such as Lloyds, NatWest, Santander, Halifax, and Bank of Scotland.
An additional 29 branches have announced closure plans without finalizing dates yet, bringing the total closures to 102. Leading the closures is Lloyds with 40 branches nearing their final closure or awaiting a set date.
Santander, Bank of Scotland, Halifax, and NatWest will see 18, 17, 15, and 7 branches closing, respectively.
Last year, both Lloyds and Santander disclosed numerous closures, attributing the decision to customers shifting towards digital banking services.
By the end of this month, 35 branches will have disappeared from high streets, with two more closures in February and an additional 23 in March.
Remaining closures are planned for July and October or are yet to be determined. Cornwall is significantly impacted by major banks closing branches, with four confirmed closures this year and two pending closure dates.
These closures follow a pattern of 13 closures last year, six in 2024, 14 in 2023, and six in 2022, totaling 45 bank closures. Scotland’s Highland council area is expected to lose six banks this year, including two without closure dates announced.
Scotland will see a loss of 20 banks, with five closing in Wales and one in Northern Ireland. Of the 76 remaining closures in England, the South East and South West regions are most affected, with 17 closures in each area.
Since February 2022, when major banking groups pledged to evaluate the impact of each closure, a total of 2,065 branches have either closed or announced closure plans.
The LINK initiative was introduced to oversee each closure and ensure that vulnerable customers and small businesses are not left behind during the shift to digital and virtual banking.
When communities are left without a local bank due to closures, banking hubs or free ATMs are established to address the gap.
Nick Quin, Chief Corporate Affairs Officer at LINK, stated that the preference for digital banking is increasing. Despite this trend, cash remains crucial, with over £76 billion withdrawn from LINK cash machines last year.
Gareth Oakley, CEO of Cash Access UK, highlighted the evolving banking landscape as people shift towards digital banking. More banking hubs are opening to cater to those who rely on cash and in-person banking services.
These hubs, along with new cash solutions, will continue to support businesses and consumers in accessing and depositing cash conveniently.
