More than 100 bank branches across the UK are set to close this year, leaving many communities without any local banking services. The closures, which include major banks such as Barclays and HSBC, are part of a wider trend that has seen 1,325 branches shut or announce closure since February 2022.
According to data, 12 branches closed in January alone, with another 38 expected to shut by the end of this month. In total, 245 banks are scheduled to close in 2024, with an additional six closures pending. Already, 15 bank closures have been announced for 2025.
The loss of 89 branches will leave surrounding communities with no alternative bank nearby. Age UK has called for a halt on closures until more banking hubs are established in areas lacking services. Caroline Abrahams, charity director, warned that older people in rural areas are particularly at risk of digital exclusion.
Chris Ashton from LINK, which assesses closure impacts, noted that over 70% of people still use cash. Since 2021, LINK has recommended 106 new banking hubs to ensure continued access to cash and face-to-face services.
