Major banks including Lloyds and Halifax are set to close another 120 branches in 2024, dealing another blow to UK high streets. According to data from Which?, banks and building societies have closed 6,214 branches since January 2015, an average of around 53 per month.
Lloyds will shutter 51 branches, Halifax 46, Bank of Scotland 16, TSB seven, and Barclays six. Closures are scheduled from January through to September 2024. Banks attribute the closures to declining customer visits, as more people use online banking for everyday services.
Charities and organisations have raised concerns that the closures risk leaving elderly and vulnerable people without access to essential cash services. Customers affected can use basic counter services at their nearest Post Office, including paying in cash and cheques, making withdrawals, and checking balances.
Most major banks also operate pop-up branches or mobile vans, and banking hubs are opening across the UK. These hubs provide shared high-street spaces where different lenders take turns to offer services each day.
