Three prominent high street banks have announced plans 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 under the Lloyds Banking Group, cited the shift towards digital banking as the reason for the closures, which were initially disclosed earlier this year.
The closures will affect 40 Lloyds branches, 14 Halifax locations, and 17 Bank of Scotland sites. Customers impacted by these closures have alternative options available to them. Lloyds, Halifax, and Bank of Scotland customers can utilize branches across any of these three banks for their day-to-day banking needs. Additionally, they can explore the possibility of using a “banking hub” in their vicinity, where a bank operates within a shared public space on the high street.
A spokesperson for Lloyds Banking Group highlighted the evolving banking habits, mentioning that over 21 million customers now prefer using apps to manage their finances. The spokesperson emphasized the group’s commitment to offering a wider array of choices, combining digital convenience with personalized service. Customers can access banking services through the group’s app, any Lloyds, Halifax, or Bank of Scotland branch, the Post Office, or specialized banking hubs, and they can also deposit cash at over 30,000 PayPoint locations.