A Scottish viewer of BBC Morning Live has reported that after a recent bank closure, the distance between Perth and Inverness to the nearest main branch is 114 miles. This stark example highlights the accelerating disappearance of banks and building societies from UK high streets, leaving generations cut off from in-person services.
Closure Rate Exceeds 50 Branches Per Month
Research from consumer group Which?, cited by BBC Morning Live presenter Louise Minchin, reveals that an average of 50 bank and building society branches have closed every month since 2015. Minchin stated: "We know banks are closing on high streets at a pace, nearly 7,000 since the beginning of 2015, local branches closed across the UK. That's 53 [on average] a month and this year alone, 230 branches have closed or are scheduled to close."
The closures affect major institutions including Halifax, NatWest, Lloyds, and Bank of Scotland, with dozens more set to vanish before the end of the year.
Elderly and Rural Communities Hit Hardest
Viewers of BBC Morning Live have shared their anxieties, particularly among elderly people who fear "making mistakes" when using online banking. Others expressed feeling like "just a number" to banks that abandon smaller town centres. The shift leaves many with little choice but to adapt to digital services, despite concerns about accessibility and confidence.
Louise Minchin noted that the primary driver is the rise of online banking: "There are lots of reasons for that - and the obvious one is the rise in online banking and fewer people are relying on physical branches, which are expensive to run, especially in small, rural areas." According to the programme, 93% of people who do everyday banking now do so online or via an app.
Alternative Services: Post Office, Cash at Till, and Banking Hubs
Despite the rapid decline, alternatives exist for those who cannot access online services. The Post Office can assist with basic banking needs, including cash withdrawals and "simple banking services." Additionally, 'cash at the till' services are available in certain stores, allowing customers to withdraw cash when making a purchase.
Banks are required to provide alternatives for customers to "complete most day-to-day tasks" before closing a branch. Louise explained: "Anyone can use them for everyday banking, including withdrawing cash, checking balances and on different days, staff from individual banks can help with more complex issues like talking about a mortgage or your pension." These hubs are often located in shared community spaces such as libraries. Customers can find their nearest banking hub via their bank's website.
Broader Trends: Mergers and Changing Spending Habits
Beyond digital banking, mergers among banks are also driving closures. Instead of maintaining multiple branches serving the same customer base, banks are consolidating operations. Changing spending habits, such as increased card payments and 'buy now, pay later' schemes, have reduced the need for cash and daily branch visits.
