Three prominent high street banks are planning to shut down 71 branches next year due to the increasing trend of online banking. Lloyds Bank, Halifax, and Bank of Scotland, all part of Lloyds Banking Group, cited the shift towards digital banking as the reason for these closures, originally 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.
Clients 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 nearby “banking hubs,” which are bank setups in shared public spaces on the high street.
A Lloyds Banking Group spokesperson explained that the banking landscape is evolving, with more than 21 million customers opting for apps to manage their finances. The group aims to provide enhanced flexibility by combining digital convenience with personalized services. Apart from the mobile app, customers can utilize any Lloyds, Halifax, or Bank of Scotland branch, as well as the Post Office or banking hubs for routine transactions, and deposit cash at over 30,000 PayPoint locations.