High street banks such as Santander, NatWest, Lloyds, and Halifax are planning to close a total of 52 branches in May. Since January 2015, banks and building societies have collectively shut down 6,719 branches, averaging around 53 closures per month, as reported by Which? magazine.
The increase in online banking usage is cited as the primary reason for these closures. However, concerns have been raised by charities about the potential impact on vulnerable individuals who may lose access to physical bank locations.
In May, Santander is scheduled to close 27 branches, NatWest will shut down 15, Lloyds Bank will close eight, and Halifax will shutter two sites.
For a comprehensive list of branch closures occurring in May, refer below.
Santander’s spokesperson mentioned a shift towards digital banking as the reason for branch adjustments, emphasizing continued investment in various branch formats and digital services to support customer preferences.
Similarly, NatWest highlighted ongoing investments in their branch network to serve customers effectively, with careful consideration given to minimizing any adverse effects on customers and staff when closing branches.
Lloyds Banking Group emphasized providing customers with a range of banking options, including apps, messaging services, community banking, and access to branches across Lloyds, Halifax, and Bank of Scotland, to ensure flexibility in banking methods.
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