A fresh wave of high street bank closures is set to hit communities across the UK next week, with several branches from Lloyds, NatWest, and Halifax closing doors for the last time. The closures form part of a wider industry trend as more customers shift to online banking services.
According to NatWest, over 80% of their current account holders now use digital platforms, and most new accounts are opened online. Meanwhile, Halifax previously reported a 48% drop in face-to-face transactions at its branches over the last five years. According to Which?, banks and building societies have closed 6,214 branches since January 2015, an average of around 53 closures each month. Here's the full list of 11 Lloyds, NatWest and Halifax branches to shutter next week.
- Willerby, September 22
- Abingdon, September 24
- Newmarket (Suffolk), September 24
- Birmingham (Smethwick), September 25
- Yate, September 25
- London (Clapham Junction), September 23
- Rhyl, September 23
- Erdington, September 24
- Cirencester, September 25
- Walkden, September 25
-
Leeds (Armley), September 22
For those who may be losing their local branch, hundreds of 'Banking Hubs' have been launched to give more customers access to cash and services regardless of their bank. People can find their closest location here.
The Post Office also offers banking services such as cash deposits and withdrawals, balance enquiries, and cheque deposits.
Alastair Douglas, CEO of TotallyMoney, urged people to review their options and switch banks if a closure is inconvenient.
Mr Douglas said: "With more than 6,000 banks closing in a decade, it's becoming harder for some vulnerable people to manage their money.
"In part, this is being driven by digitalisation and the growth of mobile banking, but it also benefits the banks' bottom line.
"If you're reliant on your local branch, or the service being provided, then it's worth looking into your options and finding one which suits your needs."
He added: "Loyalty doesn't pay, and with the Current Account Switch Service Guarantee, your payments and balance will be moved over automatically, and your old account will be closed for you. And by moving your money, you could bag a switching bonus, make the most of an interest-free overdraft, and experience better face-to-face banking."
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