Three prominent high street banks have announced plans to shut down 71 branches in the upcoming year. The closures, affecting Lloyds Bank, Halifax, and Bank of Scotland, all part of Lloyds Banking Group, are attributed to the increasing trend of online banking, a decision initially disclosed earlier this year.
The breakdown of closures includes 40 Lloyds branches, 14 Halifax locations, and 17 Bank of Scotland sites. Customers impacted by these closures have alternative options available to them.
Customers of Lloyds, Halifax, and Bank of Scotland can conduct their everyday banking activities at branches of any of these three banks. Additionally, they can explore the possibility of using a “banking hub” in their vicinity, where a bank operates in a shared public space on the high street.
According to a spokesperson from Lloyds Banking Group, the shift in banking behavior is evident, with more than 21 million customers opting for apps to manage their finances. The group aims to cater to this evolving preference by offering a blend of digital convenience and personalized service. Customers are encouraged to utilize the mobile app, along with accessing services at various branches, the Post Office, or banking hubs, and depositing cash at over 30,000 PayPoint locations.